McCarthy

McCarthy v. Intercontinental Exchange, Inc.

Good Law
United States District Court, Northern District of CaliforniaOctober 10, 20233:20-cv-05832California2,836 words

Opinion

Trial Court Opinion

UNITED STATES DISTRICT COURT NORTHERN DISTRICT OF CALIFORNIA 6 LISA MCCARTHY, et al., Case No. 20-cv-05832-JD

Plaintiffs,

ORDER RE DISMISSAL

v.

INTERCONTINENTAL EXCHANGE, INC., et al., 11 Defendants.

12 This antitrust action was filed by a group of consumers alleging a conspiracy among the defendant banks and financial institutions to “fix” the intra-bank interest rate known as the USD LIBOR. Dkt. No. 1. After denying plaintiffs’ requests for a preliminary injunction, Dkt. No. 351, the Court dismissed the complaint under Rules 12(b)(1) and 12(b)(6) of the Federal Rules of Civil Procedure, with leave to amend. Dkt. No. 365. The dismissal was warranted because plaintiffs had failed to meet their burden of establishing personal jurisdiction over the foreign defendants, and to plausibly allege antitrust standing for their claims under Sections 1 and 2 of the Sherman Act, 15 U.S.C. §§ 1, 2. Id. Plaintiffs filed a first amended complaint that did not change much in the way of allegations, and which focused again on a “price-fixed…

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