HSBC Mexico Wins Dismissal in Bond Price-Fixing Suit

Skadden secured a dismissal on behalf of HSBC Mexico in In re Mexican Government Bonds Antitrust Litigation, a putative antitrust class action in which the plaintiffs — U.S. pension funds — alleged a conspiracy by Mexican banks to manipulate the market for debt securities issued by the Mexican government. Judge J. Paul Oetken of the United States District Court for the Southern District of New York granted a motion to dismiss on November 30, 2020, holding that, as Skadden argued, exercising personal jurisdiction over the foreign defendants in this case would not comport with due process.