Auction Houses Antitrust Litigation


0

Class Members

$537,000,000

Settlement Fund

04-21-2001

Date

Case Description


Class Plaintiffs filed a claim alleging that Sotheby’s and Christie’s auction houses colluded to fix, raise, maintain, or stabilize the prices for their auction services. In the resulting settlement, the defendants settled by paying $412 million in cash and $125 million worth of freely transferable certificates. Each auction house issued $62.5 million in face value of certificate.

  

Counsel for Plaintiffs:

David Boies (Boies Schiller & Flexner LLP)

Richard B. Drubel (Boies Schiller & Flexner LLP)

 

Counsel for Defendants:

Shepard Goldfein (Skadden, Arps, Slate, Meagher & Flom LLP)

Micheal L. Weiner (Skadden, Arps, Slate, Meagher & Flom LLP)

Richard J. Davis (Weil, Gotshal & Manges LLP)

Steven A. Reiss (Weil, Gotshal & Manges LLP)

Howard B. Comet (Weil, Gotshal & Manges LLP)

 

Legal Documents

Settlement Agreement

Notices

Judge's Order

 

 

 

Court Information


Case #
00-CV-00648
Case Type
Antitrust
Court Type
District Court
Jurisdiction
Southern District of New York
Judge
Lewis A. Kaplan
Industry
Real Estate

CCC Performance


As the designated market maker in the settlement, CCC facilitated the redemption of $30 million worth of Sotheby’s certificates (93% of the total value of redeemed certificates).

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