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City of Philadelphia et al. v. Bank of America Corporation et al.
VRDO Class Action
Case No. 19-cv-01608
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WELCOME TO THE VRDO CLASS ACTION WEBSITE

If, from February 1, 2008, through November 30, 2015, you paid interest on a
VRDO that had rate resets on a daily or weekly basis, your rights may be
affected.


WHAT IS THIS LAWSUIT ABOUT?

A class action suit has been filed against Bank of America, Barclays, Citigroup,
Goldman Sachs, JPMorgan Chase, Morgan Stanley, the Royal Bank of Canada, and
Wells Fargo (collectively "The Defendants") for allegedly conspiring to fix
interest rates on Variable Rate Demand Obligations (“VRDOs”) for VRDOs they
remarketed during the period from February 1, 2008, through November 30, 2015.
Plaintiffs have asserted claims for violation of federal antitrust law and
various states’ contract laws. The class action lawsuit is known as City of
Philadelphia et al. v. Bank of America Corporation et al, Case No. 19-cv-1608,
and it is in the United States District Court for the Southern District of New
York. The Court has allowed this lawsuit to be a class action on behalf of a
nationwide class and a sub-class that could include you.


WHO IS A CLASS MEMBER?

You are a potential class member if you directly paid the interest expenses on a
VRDO that had interest rates reset on a weekly or daily basis pursuant to a
remarketing agreement with any Defendant at any point from February 1, 2008,
through November 30, 2015. You are a potential sub-class member if, in addition
to meeting the class requirements, you were party to a remarketing agreement
with any Counterparty Defendant that applies to a VRDO that had interest rates
reset on a weekly or daily basis at any point from February 1, 2008, through
November 30, 2015. The Counterparty Defendants are Banc of America Securities
LLC; Barclays Capital, Inc.; Citigroup Global Markets Inc.; Goldman Sachs & Co.
LLC; J.P. Morgan Securities LLC; Merrill Lynch, Pierce, Fenner & Smith Inc.; RBC
Capital Markets LLC; Wachovia Bank N.A.; and Wells Fargo Bank, N.A.

If you are a member of the Class, you had to decide whether to stay in the
lawsuit or ask to be excluded before March 11, 2024. The deadline to exclude
yourself has passed.


IS THERE MONEY AVAILABLE NOW?

There is no money available now and no guarantee there ever will be. The Court
has made no decision as to the merits of the legal claims against Defendants,
and Defendants deny all claims in this lawsuit. A trial date has not yet been
set.


YOUR LEGAL RIGHTS AND OPTIONS

Option and Deadline Description

DO NOTHING

Stay in this lawsuit and await the outcome. Lose certain rights.

This option means that you remain part of the Class and you keep the possibility
of getting money or benefits that may come from a trial or a settlement. If you
choose this option, you will be bound by any judgment in this case, whether
favorable to Plaintiffs or Defendants. You may lose any rights to sue Defendants
at your own expense and with your own attorney over claims that arise from the
same factual predicate alleged in this lawsuit.

ASK TO BE EXCLUDED
March 11, 2024 - Passed

Get no benefits from the lawsuit. Keep certain rights. 

If you asked to be excluded from this lawsuit and money is later awarded, you
will not be allowed to request a payment. However, you kept your right to sue
Defendants at your own expense and with your own attorney over claims that arise
from the same factual predicate alleged in this lawsuit. The deadline to exclude
yourself has passed.

 


FOR MORE INFORMATION

Visit this website often to get the most up-to-date information.

Call
1-877-595-0089
Email
info@VRDOClassAction.com
Mail
VRDO Class Action Administrator
c/o JND Legal Administration
P.O. Box 91484
Seattle, WA 98111
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