In re: Credit Default Swaps Antitrust Litigation

RESPONSE to Motion re:

S.D.N.Y.October 16, 2015

UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF NEW YORK -------------------------------------------------------------------- X : : IN RE CREDIT DEFAULT SWAPS ANTITRUST : LITIGATION : 13-MD-2476 (DLC) : This Document Relates To: All Actions : : : : : -------------------------------------------------------------------- X DEFENDANTS’ STATEMENT IN CONNECTION WITH THE PROPOSED SETTLEMENT Defendants1 hereby submit this statement in connection with the proposed Settlement of this action solely to make clear that they neither adopt nor join in any factual or legal discussions in Plaintiffs’ submissions in support of the Settlement. While Defendants have entered into the Settlement to resolve this litigation and therefore support its approval by the Court, Defendants deny wrongdoing or liability in all respects and reserve all rights to contest any facts or legal analyses set forth in Plaintiffs’ submissions in the event that, for any reason, the Settlement is not approved and litigation of the claims herein resumes. 1 Bank of America Corporation and Bank of America, N.A.; Barclays Bank PLC; BNP Paribas; Citigroup Inc., Citibank, N.A., and Citigroup Global Markets Inc.; Credit Suisse AG; Deutsche Bank AG; Goldman, Sachs & Co.; HSBC Bank PLC and HSBC Bank USA, N.A.; JPMorgan Chase & Co. and JPMorgan Chase Bank, N.A.; Morgan Stanley & Co. LLC; Royal Bank of Scotland PLC; Royal Bank of Scotland N.V.; UBS AG and UBS Securities LLC; International Swaps and Derivatives Association (“ISDA”); Markit Group Holdings Ltd. and Markit Group Ltd. (“Markit”); and any other Person or Persons who are named as defendants in the Action at any time up to and including the date a Preliminary Approval Order is entered. Case 1:13-md-02476-DLC Document 448 Filed 10/16/15 Page 1 of 6 Dated: October 16, 2015 /s/ Arthur J. Burke Robert F. Wise, Jr. Arthur J. Burke Jeremy T. Adler DAVIS POLK & WARDWELL LLP 450 Lexington Avenue New York, NY 10017 Tel: (212) 450-4000 Fax: (212) 701-5800 robert.wise@davispolk.com arthur.burke@davispolk.com jeremy.adler@davispolk.com Attorneys for Bank of America Corporation and Bank of America N.A. /s/ David Esseks David Esseks ALLEN & OVERY LLP 1221 Avenue of the Americas New York, NY 10020 Tel: (212) 610-6300 Fax: (212) 610-6399 david.esseks@allenovery.com John Terzaken Molly Kelley ALLEN & OVERY LLP 1101 New York Avenue, N.W. Washington, DC 20005 john.terzaken@allenovery.com molly.kelley@allenovery.com Attorneys for BNP Paribas /s/ David G. Januszewski David G. Januszewski Herbert S. Washer CAHILL GORDON & REINDEL LLP 80 Pine Street New York, New York 10005 Telephone: (212) 701-3000 Facsimile: (212) 378-2200 djanuszewski@cahill.com hwasher@cahill.com Attorneys for Barclays Bank PLC /s/ Fraser L. Hunter, Jr. Fraser L. Hunter, Jr. WILMERHALE LLP 250 Greenwich Street New York, New York 10007 Map (212) 230-8882 (212) 230-8888 Hunter, Fraser Fraser.Hunter@wilmerhale.com J. Robert Robertson Benjamin Holt* HOGAN LOVELLS US LLP *admitted pro hac vice Columbia Square 555 Thirteenth Street, N.W. Washington, DC 20004 Tel: (202) 637-5600 Fax: (202) 637-5910 robby.robertson@hoganlovells.com benjamin.holt@hoganlovells.com Attorneys for Credit Suisse AG Case 1:13-md-02476-DLC Document 448 Filed 10/16/15 Page 2 of 6 /s/ David F. Graham* David F. Graham* *admitted pro hac vice SIDLEY AUSTIN LLP 1 S Dearborn St Chicago, IL 60603 Tel: (312) 853-7000 Fax: (312) 853-7036 dgraham@sidley.com Benjamin R. Nagin SIDLEY AUSTIN LLP 787 Seventh Avenue New York, NY 10019 Tel: (212) 839-5300 Fax: (212) 839-5599 bnagin@sidley.com Attorneys for Citigroup Inc., Citibank N.A. and Citigroup Global Markets Inc. /s/ Robert Y. Sperling* Robert Y. Sperling* *admitted pro hac vice WINSTON & STRAWN LLP 35 West Wacker Drive Chicago, IL 60601-9703 rsperling@winston.com Elizabeth P. Papez* *admitted pro hac vice WINSTON & STRAWN LLP 1700 K Street N.W. Washington, DC 20006 Tel: 312-558-5600 Fax: 312-558-5700 epapez@winston.com Richard C. Pepperman II Bradley P. Smith John McCarthy Mark S. Geiger SULLIVAN & CROMWELL LLP 125 Broad Street New York, NY 10004 Tel: (212) 558-4000 Fax: (212) 558-3588 peppermanr@sullcrom.com smithbr@sullcrom.commccarthyj@sullcrom.com geigerm@sullcrom.com Attorneys for Goldman, Sachs & Co. Case 1:13-md-02476-DLC Document 448 Filed 10/16/15 Page 3 of 6 /s/ Paula W. Render* Paula W. Render* Alex P. Middleton* *admitted pro hac vice JONES DAY 77 West Wacker Chicago, IL 60601 Tel: (312) 782-3939 Fax: (312) 782-8585 prender@jonesday.com apmiddleton@jonesday.com David P. Wales* *admitted pro hac vice JONES DAY 51 Louisiana Avenue, N.W. Washington, DC 20001 Tel: (202) 879-3939 Fax: (202) 626-1700 dpwales@jonesday.com Tracy V. Schaffer Eric P. Stephens JONES DAY 222 East 41st Street New York, NY 10017 Tel: (212) 326-3939 Fax: (212) 755-7306 tschaffer@jonesday.com epstephens@jonesday.com Attorneys for Deutsche Bank AG /s/ Peter E. Greene Peter E. Greene Boris Bershteyn Peter S. Julian SKADDEN, ARPS, SLATE, MEAGHER & FLOM LLP New York, NY 10036 Tel: (212) 735-3000 Fax: (212) 735-2000 peter.greene@skadden.com boris.bershteyn@skadden.com peter.julian@skadden.com Patrick J. Fitzgerald SKADDEN, ARPS, SLATE, MEAGHER & FLOM LLP 155 N. Wacker Drive Suite 2700 Chicago, IL 60606 Tel: (312) 407-0508 Fax: (312) 407-0411 patrick.fitzgerald@skadden.com Attorneys for JPMorgan Chase & Co. and JPMorgan Chase Bank, N.A. /s/ Amy W. Ray Charles F. Rule* Joseph J. Bial Amy W. Ray CADWALADER, WICKERSHAM & TAFT LLP *admitted pro hac vice 700 6th Street, N.W. Washington, DC 20001 Tel: (202) 862-2200 Fax: (202) 862-2400 rick.rule@cwt.com joseph.bial@cwt.com amy.ray@cwt.com Attorneys for Royal Bank of Scotland PLC and Royal Bank of Scotland N.V. Case 1:13-md-02476-DLC Document 448 Filed 10/16/15 Page 4 of 6 /s/ Richard A. Spehr Richard A. Spehr Michael O. Ware MAYER BROWN LLP 1675 Broadway New York, NY 10019 Tel: (212) 506-2500 Fax: (212) 262-1910 rspehr@mayerbrown.com mware@mayerbrown.com Andrew S. Marovitz* Britt M. Miller* MAYER BROWN LLP *admitted pro hac vice 71 South Wacker Drive Chicago, IL 60606 Tel: (312) 782-0600 Fax: (312) 701-7711 amarovitz@mayerbrown.com bmiller@mayerbrown.com Attorneys for HSBC Bank plc and HSBC Bank USA, N.A. /s/ Daniel Slifkin Evan R. Chesler Daniel Slifkin Michael A. Paskin Vanessa A. Lavely CRAVATH, SWAINE & MOORE LLP Worldwide Plaza 825 Eighth Avenue New York, NY 10019 Tel: (212) 474-1000 Fax: (212) 474-3700 echesler@cravath.com dslifkin@cravath.com mpaskin@cravath.com vlavely@cravath.com Attorneys for Morgan Stanley & Co. LLC /s/ David C. Bohan David C. Bohan Gil M. Soffer* KATTEN MUCHIN ROSENMAN LLP *admitted pro hac vice 525 West Monroe Street Chicago, IL 60661 Tel: (312) 902-5200 Fax: (312) 902-1061 david.bohan@kattenlaw.com gil.soffer@kattenlaw.com James J. Calder KATTEN MUCHIN ROSENMAN LLP 575 Madison Avenue New York, NY 10022 Tel: (212) 940-8800 Fax: (212) 940-8776 james.calder@kattenlaw.com Attorneys for UBS AG and UBS Securities LLC /s/ Alan R. Kusinitz Alan R. Kusinitz PROSKAUER ROSE LLP Eleven Times Square New York, NY 10036 Tel: (212) 969-3000 Fax: (212) 969-2900 Colin R. Kass PROSKAUER ROSE LLP 1001 Pennsylvania Ave., N.W. Washington, DC 20004 Tel: (202) 416-6800 Fax: (202) 416-6899 ckass@proskauer.com Attorneys for Markit Group Holdings Ltd. and Markit Group Ltd. Case 1:13-md-02476-DLC Document 448 Filed 10/16/15 Page 5 of 6 /s/ Matthew J. Reilly Matthew J. Reilly Abram J. Ellis SIMPSON THACHER & BARTLETT LLP 1155 F. Street, NW Washington, DC 20004 Tel: (202) 636-5500 Fax: (202) 636-5502 matt.reilly@stblaw.com aellis@stblaw.com Michael J. Garvey SIMPSON THACHER & BARTLETT LLP 425 Lexington Avenue New York, NY 10017 Tel: (212) 455-2000 Fax: (212) 544-2502 mgarvey@stblaw.com Attorneys for International Swaps and Derivatives Association Case 1:13-md-02476-DLC Document 448 Filed 10/16/15 Page 6 of 6