Firm Wins Dismissal of a Purported Class Action Complaint Seeking Hundreds of Millions in Damages
June 9, 2014
In September 2009, plaintiffs filed a 240-page purported class action complaint in the United States District Court for the Northern District of Illinois against numerous defendants arising out of the sale of a large number of dollar-denominated bearer bonds by Germany and others to finance war reparation payments for World War I. The Complaint alleged, among other things, that Germany and various financial institutions had improperly prevented holders of the bonds from collecting on their bonds by failing to cooperate in their redemption. The Firm was retained to represent Mizuho Bank, Ltd. (“Mizuho”) as a defendant in that purported class action lawsuit. Mizuho joined all defendants’ joint motion to dismiss the Second Amended Complaint on issues common to all defendants, and filed its own separate motion to dismiss on individual grounds. On September 30, 2012, the District Court issued a 27-page decision and order dismissing all claims in the Second Amended Complaint against all defendants, with prejudice. On January 9, 2014, the Seventh Circuit issued its Opinion affirming the dismissal of all claims. On June 9, 2014, the United States Supreme Court denied plaintiffs’ petition for a writ of certiorari. These rulings represent a complete victory for all defendants, including Mizuho.
A copy of the Second Amended Complaint is available here.
A copy of the District Court’s Decision and Order is available here.
A copy of the Seventh Circuit’s Opinion is available here.