In this multidistrict litigation, plaintiffs include a class of investors who transacted in VIX instruments alleging that a number of trading firms and financial institutions conspired to post bids on certain S&P 500 options during a fixed, short window of nontrading hours to influence the CBOE-Special Opening Quotation (“SOQ”) formula that calculates settlement prices of VIX instruments. Hausfeld Partner Hilary Scherrer has been appointed to the Plaintiffs’ Steering Committee.
The case is currently before Judge Manish Shah in the Northern District of Illinois under the caption In re Chicago Board Options Exchange Volatility Index Manipulation Antitrust Litigation, MDL No. 2842 (N.D. Ill.). Plaintiffs filed a Consolidated Class Action Complaint on September 28, 2018, and briefing on Defendants’ motion to dismiss was completed on January 28, 2019.