Sonterra Capital Master Fund, Ltd. v. Barclays Bank PLC et al

Filing 290

FINAL JUDGMENT AND ORDER OF DISMISSAL WITH PREJUDICE OF DEUTSCHE BANK AG: IT IS HEREBY ORDERED, ADJUDGED, AND DECREED: This Final Judgment hereby incorporates by reference the definitions in the Stipulation and Agreement of Settlement dated March 31, 2022 between Representative Plaintiffs and Deutsche Bank, ECF No. 262-1 (the "Settlement Agreement"), and all terms used herein, except as otherwise expressly defined herein, shall have the same meanings as set forth in the Settlement Agreement. Upon the Effective Date of the Settlement, the Action, including each claim in the Action, is hereby dismissed with prejudice on the merits as to Deutsche Bank (but not any other Defendant) without fees or costs except as provided by th e terms of the Settlement. Upon the Effective Date of the Settlement, the Action shall be dismissed fully, finally, and in its entirety against Deutsche Bank. As further set forth in this order. The Court, finding no just reason for delay, di rects pursuant to Rule 54(b) of the Federal Rules of Civil Procedure that the judgment of dismissal as to Deutsche Bank shall be final and entered forthwith. IT IS SO ORDERED. (Signed by Judge Vernon S. Broderick on 11/21/2023) Deutsche Bank AG and Deutsche Bank AG terminated. (ks)

UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK
SONTERRA CAPITAL MASTER FUND, LTD.,
RICHARD DENNIS, and FRONTPOINT EUROPEAN
FUND, L.P., on behalf of themselves and all others
similarly situated,

Docket No. 15-cv-3538 (VSB)

Plaintiffs,
-againstBARCLAYS BANK PLC, COOPERATIEVE
CENTRALE RAIFFEISEN-BOERENLEENBANK
B.A., DEUTSCHE BANK AG, LLOYDS BANKING
GROUP PLC, THE ROYAL BANK OF SCOTLAND
PLC, UBS AG, JOHN DOE NOS. 1-50, and
BARCLAYS CAPITAL, INC.,
Defendants.

FINAL JUDGMENT AND ORDER OF DISMISSAL
WITH PREJUDICE OF DEUTSCHE BANK AG

This matter came for a duly-noticed hearing on November 16, 2023 (the “Fairness
Hearing”), upon Representative Plaintiffs’ 1 Motion for Final Approval of Class Action Settlement
with Deutsche Bank AG (“Deutsche Bank”) in the action captioned Sonterra Capital Master Fund,
Ltd., et al. v. Barclays Bank PLC, et al., Case No. 15-cv-03538 (VSB) (S.D.N.Y.) (the “Action”),
which was consented to by Deutsche Bank (together with Representative Plaintiffs, the “Parties”).
The Court having considered all papers filed and proceedings had herein and otherwise being fully
informed in the premises and good cause appearing therefor,
IT IS HEREBY ORDERED, ADJUDGED, AND DECREED:
1.

This Final Judgment hereby incorporates by reference the definitions in the

Stipulation and Agreement of Settlement dated March 31, 2022 between Representative Plaintiffs
and Deutsche Bank, ECF No. 262-1 (the “Settlement Agreement”), and all terms used herein,
except as otherwise expressly defined herein, shall have the same meanings as set forth in the
Settlement Agreement.
2.

Upon the Effective Date of the Settlement, the Action, including each claim in the

Action, is hereby dismissed with prejudice on the merits as to Deutsche Bank (but not any other
Defendant) without fees or costs except as provided by the terms of the Settlement.
3.

Upon the Effective Date of the Settlement, the Action shall be dismissed fully,

finally, and in its entirety against Deutsche Bank.
4.

Upon the Effective Date of the Settlement, the Releasing Parties 2 shall be deemed

to have, and by operation of this Final Judgment have, finally and forever released and discharged
1

“Representative Plaintiffs” are Richard Dennis and Fund Liquidation Holdings LLC.

2
“Releasing Parties” means each and every Representative Plaintiff, Sonterra Capital Master Fund Ltd., and
FrontPoint European Fund, L.P., and each and every Settling Class Member on their own behalf and on behalf of their
respective predecessors, successors and assigns, direct and indirect parents, subsidiaries and affiliates, and on behalf
of their current and former officers, directors, employees, agents, principals, members, trustees, participants,

from and covenanted not to sue the Released Parties 3 for any and all manner of claims, including
unknown claims, causes of action, cross-claims, counter-claims, charges, liabilities, demands,
judgments, suits, obligations, debts, setoffs, rights of recovery, or liabilities for any obligations of
any kind whatsoever (however denominated), whether class, derivative, or individual, in law or
equity or arising under constitution, statute, regulation, ordinance, contract, or otherwise in nature,
for fees, costs, penalties, fines, debts, expenses, attorneys’ fees, and damages, whenever incurred,
and liabilities of any nature whatsoever (including joint and several), known or unknown,
suspected or unsuspected, asserted or unasserted, which Settling Class Members or any of them
ever had, now has, or hereafter can, shall or may have, representatively, derivatively or in any
other capacity, against the Released Parties arising from or relating in any way to conduct alleged
in the Action or which could have been alleged in the Action against the Released Parties
concerning any Sterling LIBOR-Based Derivatives or any financial instruments priced,
benchmarked, or settled to Sterling LIBOR purchased, sold, held, traded, and/or transacted by the
Representative Plaintiffs, Class Members, and/or Settling Class Members (to the extent such other

representatives, fiduciaries, beneficiaries or legal representatives in their capacity as such, and the predecessors,
successors, heirs, executors, administrators and assigns of each of the foregoing in their capacity as such, whether or
not they object to the Settlement or make a claim for payment under the Net Settlement Fund. Notwithstanding that
the United States Government is excluded from the Settlement Class, with respect to any Settling Class Member that
is a government entity, Releasing Parties include any Settling Class Member as to which the government entity has
the legal right to release such claims. As used in this provision, “affiliates” means entities controlling, controlled by,
or under common control with a Releasing Party. For the avoidance of doubt, the “Releasing Parties” include all
Persons entitled to bring or release claims on behalf of Settling Class Members relating to their transactions in Sterling
LIBOR-Based Derivatives or any similar financial instruments priced, benchmarked, or settled to Sterling LIBOR
held by Representative Plaintiffs, Sonterra Capital Master Fund Ltd., and FrontPoint European Fund, L.P., or Settling
Class Members (to the extent such similar financial instruments were entered into by a U.S. Person, or by a Person
from or through a location within the U.S.). See Settlement Agreement § 1(HH).
“Released Parties” means Deutsche Bank, its predecessors, successors and assigns, its direct and indirect
parents, subsidiaries and affiliates, and each of their respective current and former officers, directors, employees,
managers, members, partners, agents (in their capacity as agents of Deutsche Bank), shareholders (in their capacity as
shareholders of Deutsche Bank), attorneys, insurers, or legal representatives, and the predecessors, successors, heirs,
executors, administrators, and assigns of each of the foregoing. As used in this provision, “affiliates” means entities
controlling, controlled by, or under common control with a Released Party. For the avoidance of doubt, “Released
Parties” shall not include any named Defendants other than Deutsche Bank. See Settlement Agreement § 1(GG).
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2

financial instruments were entered into by a U.S. Person, or by a Person from or through a location
within the U.S.), including, but not limited to, any alleged manipulation of Sterling LIBOR under
the Commodity Exchange Act, 7 U.S.C. § 1 et seq., or any other statute, regulation, or common
law, or any purported conspiracy, collusion, racketeering activity, or other improper conduct
relating to Sterling LIBOR (including, but not limited to, all claims under Section 1 of the Sherman
Antitrust Act, 15 U.S.C. § 1 et seq., the Clayton Antitrust Act, 15 U.S.C. §§ 15 & 26, the Racketeer
Influenced and Corrupt Organizations Act, 18 U.S.C. §§ 1961-1968, and any other federal or state
statute, regulation, or common law).
5.

The following claims shall not be released by this Settlement: (i) any claims against

former Deutsche Bank employees arising solely from those former employees’ conduct that
occurred while those former employees were not employed by Deutsche Bank; (ii) any claims
against the named Defendants in the Action other than Deutsche Bank; (iii) any claims against
inter-dealer brokers or their employees or agents when and solely to the extent they were engaged
as employees or agents of the other Defendants or of inter-dealer brokers other than any affiliate
or subsidiary of Deutsche Bank; or (iv) any claims against any defendant who may be subsequently
added in the Action, other than any affiliate or subsidiary of Deutsche Bank. For the avoidance of
doubt, Released Claims does not include claims arising under foreign law based on transactions
executed entirely outside the United States by Class Members domiciled outside the United States.
6.

Although the foregoing release is not a general release, the foregoing release

constitutes a waiver by the Parties and each Settling Class Member of any and all rights and
provisions under Section 1542 of the California Civil Code (to the extent it applies to the
Action), which provides as follows:
A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS THAT THE
CREDITOR OR RELEASING PARTY DOES NOT KNOW OR SUSPECT

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TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE
RELEASE AND THAT, IF KNOWN BY HIM OR HER, WOULD HAVE
MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE
DEBTOR OR RELEASED PARTY.
This release also constitutes a waiver of any and all provisions, rights, and benefits of any federal,
state or foreign law, rule, regulation, or principle of law or equity that is similar, comparable,
equivalent to, or which has the effect of, Section 1542 of the California Civil Code. The Settling
Class Members acknowledge that they are aware that they may hereafter discover facts in addition
to, or different from, those facts which they know or believe to be true with respect to the subject
matter of this Agreement, but that it is their intention to release fully, finally, and forever all of the
Released Claims, and in furtherance of such intention, the release shall be irrevocable and remain
in effect notwithstanding the discovery or existence of any such additional or different facts. In
entering and making this Agreement, the Parties assume the risk of any mistake of fact or law and
the release shall be irrevocable and remain in effect notwithstanding any mistake of fact or law.
7.

Upon the Effective Date, each of the Releasing Parties shall forever be enjoined

from prosecuting in any forum any Released Claim against any of the Released Parties and agrees
and covenants not to sue any of the Released Parties on the basis of any Released Claims or to
assist any third party in prosecuting any Released Claims against any Released Party.
8.

The Court, finding no just reason for delay, directs pursuant to Rule 54(b) of the

Federal Rules of Civil Procedure that the judgment of dismissal as to Deutsche Bank shall be final
and entered forthwith.

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