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7 West 57th Street Realty Company, LLC v. Citigroup, Inc., et al.

Paid petition · United States Court of Appeals for the Second Circuit, No. 18-1102 · judgment April 30, 2019

Certiorari denied · October 7, 2019
Pre-decision estimate: 11% cert probability (95% interval 7%–17%)

Before the decision, about 2.6× the 4.1% base rate. The model weighted this up for counsel with five or more prior petitions here, a Second Circuit decision below, and a circuit split argued in the petition, and down for a business respondent.

Question presented

Respondents conspired to fix the price of the London Interbank Offered Rate (LIBOR) in order to manipulate the market for LIBOR-denominated financial instruments. Because LIBOR was an enormously influential benchmark interest rate, the manipulation of LIBOR had serious and predictable effects in the market for LIBOR-denominated financial instruments and in related financial markets that predictably reacted to changes in LIBOR. The question presented is: Whether an antitrust plaintiff with a direct privity relationship to a price-fixer has antitrust standing under Section 4 of the Clayton Act, 15 U.S.C. § 15, when it was injured by its participation in a market that was foreseeably affected by defendants’ anticompetitive manipulation of a directly related market.

Counsel of record

For petitioner
Sarah Elaine Harrington
Covington & Burling LLP

For respondent
Beth Susan Brinkmann
Center for Reproductive Rights

Case

Conference history
Distributed for 1 conference

Proceedings

  1. Oct 07 2019
    Petition DENIED.
  2. Sep 04 2019
    DISTRIBUTED for Conference of 10/1/2019.
  3. Aug 23 2019
    Waiver of right of respondents Citigroup, Inc., et al. to respond filed.
  4. Jul 29 2019
    Petition for a writ of certiorari filed. (Response due August 30, 2019)