Mr. Horn is a partner of the firm and heads the firm's commodity litigation practice group, one of the premier commodity litigation practice groups in the country. Mr. Horn also represents third-party payers including major health insurers and HMOs, employers, and health and pharmacy benefits plans, and recovers on their behalf from manufacturers and providers who overcharge for prescription drugs, medical devices or services. In addition, he represents institutions and individuals in a range of securities and antitrust litigation.
Mr. Horn, as co-lead counsel of the firm's commodity litigation practice group, frequently represents investors in commodities fraud litigations.
Mr. Horn filed the first proposed class action Sonterra Capital Master Fund Ltd. v. Credit Suisse Group AG et al., Case No. 15-cv-0871 (S.D.N.Y.) against numerous global financial institutions responsible for the setting of the London Interbank Offered Rate for the Swiss Franc (“Swiss Franc LIBOR”). Defendants named in the lawsuit have already settled with global regulators, paid billions in fines, and have sought and been granted leniency by the European Commission for alleged anticompetitive conduct in the Swiss Franc LIBOR and Swiss Franc LIBOR derivatives market. On May 13, 2015, Lowey Dannenberg was appointed sole interim class counsel and on June 19, 2015 Lowey Dannenberg filed an Amended Complaint. The case is pending before the Honorable Sidney H. Stein in the Southern District of New York.
On May 6, 2015, Mr. Horn filed the first proposed class action Sonterra Capital Master Fund Ltd. v. Barclays Bank PLC et al., Case No. 15-cv-3538 (S.D.N.Y.) against numerous global financial institutions responsible for the setting of the London Interbank Offered Rate for the Pound Sterling (“Sterling LIBOR”). On July 24, 2015, Lowey Dannenberg filed an Amended Complaint. The case is pending before the Honorable Vernon S. Broderick in the Southern District of New York.
Mr. Horn is also court-appointed Lead Class Counsel in Laydon v. Mizuho Bank, Ltd. et al., Case No. 12-cv-3419 (S.D.N.Y.), a proposed class action against the numerous financial institutions responsible for the setting of the London Interbank Offered Rate (“LIBOR”) for the Japanese Yen and the Euroyen Tokyo Interbank Offered Rate (“TIBOR”). The lawsuit alleges that the Defendants manipulated these global benchmark rates in an artificial direction that financially benefitted their Yen-LIBOR and Euroyen-based derivatives positions. Defendants named in the lawsuit have already pled guilty to criminal charges of price fixing and paid billions in fines to regulators. Further, Defendant UBS AG has been granted conditional leniency from the U.S. Department of Justice (“DOJ”) pursuant to the Antitrust Criminal Penalty Enhancement and Reform Act (“ACPERA”) for alleged anticompetitive conduct relating to the Euroyen market.
On February 12, 2013, Mr. Horn filed a proposed class action Sullivan v. Barclays PLC et al., Case No. 13-cv-2811 (S.D.N.Y.) against numerous global financial institutions responsible for the setting of the Euro Interbank Offered Rate (“Euribor”), a global reference rate used to benchmark and price settle over $200 trillion of financial products, including Euribor futures contracts traded on the NYSE LIFFE exchange. Defendants named in the lawsuit have already settled with global regulators, paid billions in fines, and have sought and been granted ACPERA conditional leniency from the DOJ for alleged anticompetitive conduct in the Euribor market.
On May 22, 2013, Mr. Horn filed the first class action, Prime International Trading, Ltd. v. BP PLC et al., Case No. 13-cv-3473 (S.D.N.Y.), against some of the world’s largest oil companies on behalf of a proposed class of traders who transacted in New York Mercantile Exchange (“NYMEX”) and the Intercontinental Exchange, Inc. (“ICE”) Brent Crude oil futures contracts. The lawsuit alleges that, between 2002 and the present, Defendants intentionally and unlawfully conspired to manipulate North Sea Brent Crude oil prices by deliberately reporting false trade information to Platts, the leading global provider of physical Brent Crude oil prices and benchmarks for the trillion dollar Brent Crude oil market.
Mr. Horn is also counsel for plaintiffs in the proposed class action against Moore Capital relating to manipulation of NYMEX palladium and platinum futures prices in 2007 and 2008. White v. Moore Capital Management, L.P., Case No. 10 CV 3634 (WHP)(S.D.N.Y.) While at his prior firm, Mr. Horn also helped achieve landmark results in the Sumitomo Copper Litigation, 182 F.R.D. 85 (S.D.N.Y. 1998) (a case involving manipulation of NYMEX copper futures, which settled for more than $115 million) and In re Soybean Futures Litigation, 892 F. Supp. 1025 (N.D.Ill. 1995) (a case involving manipulation of Chicago Board of Trade soybean futures contracts which settled for more than $21 million).
Mr. Horn is Co-Lead Counsel in a proposed class action, In re: Rough Rice Commodity Litigation, Case No. 11-cv-00618 (N.D. Ill.) alleging the manipulation of Chicago Board of Trade rough rice futures and options contracts during the period of October 1, 2007 and July 31, 2008. On September 26, 2012, the Court sustained Plaintiff’s CEA claims against Daniels Trading and other defendants.
In February 2008, Mr. Horn was appointed as co-lead counsel in In re: Optiver Commodities Litigation, Case No. 08 CV 6842 (LAP) (S.D.N.Y.), a certified class action involving the alleged manipulation of NYMEX crude oil, heating oil and gasoline futures contracts prices by Optiver US, LLC and other Optiver defendants.
In August 2007, he was appointed as co-lead counsel in In re: Amaranth Natural Gas Commodity Litigation, Case No. 07 Civ. 6377 (SAS) (S.D.N.Y.), a certified class action involving the manipulation of NYMEX natural gas futures contract prices by Amaranth Advisors LLC, one of the largest natural gas hedge funds prior to its widely-publicized collapse in September 2006. On April 11, 2012, the Honorable Shira A. Scheindlin, District Court Judge for the Southern District of New York, entered a final order and judgment approving the $77.1 million dollar settlement reached in the action.
Mr. Horn was also co-lead counsel in In re: Natural Gas Commodity Litigation, No. 03 Civ. 6186 (VM) (AJP) (S.D.N.Y.), which concerned the manipulation of NYMEX natural gas futures contracts by multiple market participants through use of false trade reports to industry publications. Total settlements, following certification of a three-year class of NYMEX natural gas future traders, of more than $100 million were approved by the Court in 2006 and 2007.
Health Care Recovery
Mr. Horn was appointed co-lead counsel on behalf of the certified class of endpayers (health insurers and consumers) seeking to recover overcharges paid for the prescription drug Hytrin. In re Terazosin Hydrochloride Antitrust Litigation, MDL 1317 (S.D. Fla.). The class action was settled for $29.3 million. Mr. Horn also had a lead role in litigating and settling, on behalf of Anthem's (formerly known as WellPoint) subsidiary BCBS Wisconsin, and approximately 60 other health insurers, a substantial opt-out claim in the In re Lupron Marketing and Sales Practice Litigation, MDL 1430 (D.Mass.).
Mr. Horn has also represented health benefits plan providers and recovered hundreds of millions of dollars on their behalf, for example: Blue Cross and Blue Shield Association, et al. v. SmithKlineBeecham Corp., Phila. C.C.P., August Term 2012, No. 997 (ISHP counsel for opt-out health benefit plans in Flonase settlement), New England Carpenters Health Benefit Fund, et al. v. First DataBank, Inc. and McKesson Corp., No. 05-cv- 11148 (D. Ma.), Medical Mutual of Ohio v. Merck & Co., Inc., N.J. Superior Ct. (Atlantic County), Docket No. ATL-L-07319-06-MT, Case No. 619 ($65 million Vioxx settlement), In re Actiq Sales and Marketing Practices Litig., 790 F. Supp. 2d 313 (E.D. Pa. 2011), In re Pharmaceutical Industry Average Wholesale Price Litig., Case No. 01-CV-12257, MDL No.1456 (D. Mass.) (ISHP counsel for opt-out health benefit plans), and Humana, Inc., et al. v. GlaxoSmithKline, (Phila. C.C.P., December Term 2004, No. 3140) (Augmentin opt-out settlement), and In re TriCor Indirect Purchaser Antitrust Litig., No. 05-360 (SLR)(D. Del.)(ISHP counsel for opt-out health benefit plans).
Mr. Horn has also represented several institutional clients as plaintiffs in matters related to auction rate securities. These actions include Amegy Bank, N.A. v. BlackRock Munienhanced Fund, Inc., et al. 09 Civ. 0753 (S.D.N.Y.); Amegy Bank, N.A. v. Van Kampen Trust for Insured Municipals, 09 Civ. 0754 (S.D.N.Y.) (Plaintiff alleges closed-end funds breached fiduciary duty to holders of auction rate preferred securities by failing to redeem following collapse of auction liquidity); Zebra Technologies Corporation et al v. Sovereign Holdings, LLC, et al., No. 11 L 854 (Lake County Circuit Court, Illinois) (Plaintiff alleges securities fraud in connection with the purchase of a hybrid auction rate product); and Monster Worldwide, Inc. v. RBC Capital Markets Corporation, 1:09-cv-04542 (S.D.N.Y) (Plaintiff alleged securities fraud in connection with the purchase of Student Loan Auction Rate Securities (“SLARS”)).
Mr. Horn has also represented a foreign bank in investigations of its holdings in credit default swaps, synthetic and ABS-CDOs, CMBS, RMBS, and other complex derivatives and structured products.
Antitrust Class Actions Handbook, ABA Section of Antitrust Law, 2010, contributing author.
Education and Bar Admissions
Mr. Horn is a graduate of Trinity College (B.A. 1989) and Albany Law School (J.D. 1993). He is admitted to practice in New York, and the bars of the U.S. Courts of Appeals for the 2nd and 11th Circuits, and the U.S. District Court for the Southern District of New York.