Kehoe Law Firm is pleased to announce that the United States District Court for the Southern District of New York has granted preliminary approval for the proposed settlement in the Mexican Government Bonds Antitrust Litigation.

The case, brought on behalf of the Southeastern Pennsylvania Transportation Authority Pension Plan (“SEPTA”), among others, alleges that from January 1, 2006, through April 19, 2017, inclusive, various entities conspired to fix the prices for Mexican Government Bonds issued by the Mexican government through the Bank of Mexico (“Banxico”). 

According to a complaint filed in the Southern District of New York, each defendant transacted in price-fixed Mexican Government Bonds (“MGBs”) at artificial prices with uninformed market participants like SEPTA and the Class. Defendants allegedly did so through interrelated means of manipulation. 

Partner John A. Kehoe expressed his satisfaction in being part of the case on behalf of the Plaintiffs, stating, “We are pleased to have reached this partial settlement in the Mexican Government Bonds Antitrust Litigation. The preliminary approval of the proposed settlement is a positive step toward achieving justice for our clients and the Settlement Class.”

The settlement class includes all persons who entered a MGB transaction between January 1, 2006, and April 19, 2017. The Settlement, subject to final approval, involves the certification and maintenance of the settlement class as a class action under Rule 23 of the Federal Rules of Civil Procedure.

Settling defendants include Barclays PLC, Barclays Bank PLC, Barclays Capital Inc., Barclays Capital Securities Limited, Barclays Bank México, S.A., Institución de Banca Múltiple, Grupo Financiero Barclays México, and Grupo Financiero Barclays México, S.A. de C.V. (collectively “ Barclays” ) and JPMorgan Chase & Co., J.P. Morgan Broker-Dealer Holdings Inc., J.P. Morgan Securities LLC, JPMorgan Chase Bank, National Association, Banco J.P. Morgan, S.A. Institución de Banca Múltiple, J.P. Morgan Grupo Financiero, and J.P. Morgan Securities plc.

Importantly, many other defendants have not joined in the settlement, including entities related to Bank of America, Citibank, Deutsche Bank, and HSBC, among others. For further information about the case, please visit

For more information about Kehoe Law Firm and its involvement in this matter, please contact John A. Kehoe at [email protected] or call (215) 792-6676.