Vincent Briganti 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. Briganti also works extensively in the firm's investor litigation practices involving securities fraud and antitrust violations.

Current Cases

  • Yen-LIBOR/Euroyen TIBOR. Mr. Briganti is court-appointed Lead Class Counsel in 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 April 15, 2013, Lowey Dannenberg filed a Second Amended Complaint that names over 30 Defendants, is over 300 pages, and contains claims for alleged antitrust violations, CEA violations, and unjust enrichment. The case is currently pending before Judge George B. Daniels. Laydon v. Mizuho Bank, Ltd. et al., Case No. 12-cv-3419 (S.D.N.Y.).

  • Swiss Franc. On February 5, 2015, Mr. Briganti 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.  

  • Sterling. On May 6, 2015, Mr. Briganti 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.  

  • Brent Crude Oil/Platts. On May 22, 2013, Mr. Briganti filed the first class action 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. The case is currently pending before Judge Andrew L. Carter, Jr. Prime International Trading, Ltd. v. BP PLC et al., Case No. 13-cv-3473 (S.D.N.Y.).

  • Euribor. On February 12, 2013, Mr. Briganti filed a proposed class action 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. The case is currently pending before Judge P. Kevin Castel. Sullivan v. Barclays PLC et al., Case No. 13-cv-2811 (S.D.N.Y.).

  • Amaranth Natural Gas Manipulation. Mr. Briganti served 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 New York Mercantile Exchange (“NYMEX”) natural gas futures and options 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. The $77.1 million dollar settlement is more than ten times greater than the $7.5 million joint settlement achieved by the Federal Energy Regulatory Commission (“FERC”) and the Commodity Futures Trading Commission (“CFTC”) against Amaranth Advisors LLC and represents the fourth largest class action recovery in the 85-plus year history of the Commodity Exchange Act.

  • WTI Futures Manipulation. Mr. Briganti currently represents a NYMEX crude oil trader in a proposed class action involving the alleged manipulation of West Texas Intermediate crude oil futures and options contracts during the period of January 1 through May 15, 2008 by Defendants Parnon Energy Inc. and Arcadia Petroleum Ltd. The case is currently pending before the Honorable William H. Pauley in the Southern District of New York. In: Re Crude Oil Commodity Futures Litigation, Case No. 11-cv-03600. On December 21, 2012, the Court sustained Plaintiffs’ CEA and Sherman Act claims.

  • Optiver Crude Oil, Gasoline and Heating Oil Manipulation. Mr. Briganti is Co-Lead Counsel in a proposed class action involving the alleged manipulation of NYMEX light sweet crude oil, heating oil and gasoline futures contracts prices by Optiver US, LLC and other Optiver defendants during March 2007. Lowey Dannenberg filed an Amended Class Action Complaint under seal on May 13, 2013. In re: Optiver Commodities Litigation, Case No. 08-cv-6842 (S.D.N.Y.). The case is currently pending before Chief Judge Loretta A. Preska. The initial complaint followed a civil complaint filed in 2008 by the CFTC. In April 2012, the Optiver Defendants settled the CFTC’s charges of CEA violations for $14 million.

  • Daniels Trading Rice Manipulation. Mr. Briganti is Co-Lead Counsel in a proposed class action 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. The case is currently pending before the Honorable John W. Darrah in the Northern District of Illinois. In re: Rough Rice Commodity Litigation, Case No. 11-cv-00618 (N.D. Ill.).

  • JPMorgan Silver Manipulation. Mr. Briganti serves as a Member of the Executive Committee prosecuting a proposed class action alleging the manipulation of Commodity Exchange Inc. (“COMEX”) silver futures and options contracts against JPMorgan. In re Commodity Exchange, Inc., Silver Futures and Options Trading Class Action, Case No. 1:11-md-02213. Plaintiffs allege that, between June 1, 2008 and the present, JPMorgan conspired to intentionally and unlawfully suppress and manipulate the price of COMEX silver futures and options contracts. On December 21, 2012, the Court granted JPMorgan’s motion to dismiss the Complaint. Plaintiffs are appealing this decision to the Second Circuit Court of Appeals.

Noteworthy Achievements:

Lowey Dannenberg with Mr. Briganti served as one of three executive committee members in In re Sumitomo Copper Litigation, Master File No. 96 CV 4854 (S.D.N.Y.)(Pollack, J.). Plaintiffs’ counsels’ efforts in Sumitomo resulted in a settlement on behalf of the certified class of in excess of $149 million, which is the largest class action recovery in the history of the CEA. In re Sumitomo Copper Litig., 182 F.R.D. 85, 95 (S.D.N.Y. 1998).

Mr. Briganti served as Co-Lead Counsel in In re: Natural Gas Commodity Litigation, Case No. 03 Civ. 6186 (S.D.N.Y.), a certified class action on behalf of NYMEX natural gas futures traders against the nation’s largest natural gas marketing companies. Similar to cases Mr. Briganti is actively litigating today, the case involved the false reporting of transaction data by market participants to publications that compile and publish price benchmarks used to settle and price global trade. It was alleged that these false reports undermined the entire pricing structure in the U.S. natural gas market, including the prices of NYMEX natural gas futures contracts. Total settlements obtained in this complex litigation amounted to nearly $101 million, the third largest recovery in the history of the CEA.

Mr. Briganti served as class counsel and counsel to certified class representative Richard Hershey in a class action alleging manipulation by PIMCO of the multi-billion dollar market of U.S. 10-Year Treasury Note futures contracts traded on the CBOT. Hershey v. Pacific Inv. Management Co. LLC, 571 F.3d 672 (7th Cir. 2009). The case settled in 2011 for $118,750,000, the second largest recovery in the history of the CEA.

Other notable achievements of Mr. Briganti include when he and his partner, Stephen Lowey, obtained emergency injunctive relief to prevent the Government of Argentina from canceling outstanding bonds with a face value of more than $500 million, which had been erroneously tendered by holders of those bonds. Federated Investment Management Company, et al., v. Republic of Argentina, et al., 10 Civ. 4324 (TPG) (S.D.N.Y. 2010).

Mr. Briganti had key roles in Lowey Dannenberg's prosecution of the following cases which have resulted in hundreds of millions of dollars in recoveries for investors, including In re HealthSouth Corp. Securities Litig., Glickenhaus & Co. v. DaimlerChrysler AG, In re Seagate Technology, Inc. Shareholders Litig., In re Mercedes- Benz Antitrust Litig., In re Automotive Refinishing Products Litig., Broder v. MBNA, Snyder v. Nationwide Mutual Ins. Co., and Duke v ReliaStar Life Ins. Co.

Mr. Briganti is admitted to both the New York and Connecticut State bars and is a member of the bars of the U.S. Court of Appeals for the 2nd and 8th Circuits, and U.S. District Courts for the Southern and Eastern Districts of New York. Mr. Briganti received his J.D. from New York Law School in 1996, where he graduated with honors and served as a senior editor of the New York Law School Journal of International and Comparative Law, and he received a B.A. in Political Science from Iona College with honors in 1993.