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ITG - Securities Fraud violations (Multi-Millions)

Constantine Cannon represented a whistleblower in a submission under the SEC Whistleblower Program relating to brokerage firm ITG's alleged violations of the firm’s dark pool, POSIT.  In May 2021, the SEC awarded our client 30% of the government's recovery, the maximum amount allowed under the program.  Read more -- CC

Korean Oil Companies - Procurement Fraud/Bid-Rigging ($363 million)

Constantine Cannon represented a whistleblower in a False Claims Act case alleging several Korean oil and transportation companies engaged in a bid-rigging scheme to artificially inflate the price the US military paid for fuel contracts for its bases in South Korea.  Ultimately, five different entities paid a total of $363 million: In November 2018, SK Energy, GS Caltex, and Hanjin Transportation agreed to pay $246 million to resolve both criminal and civil claims; and in March 2019, Hyundai Oilbank and S-Oil Corporation agreed to pay $127 million to resolve both criminal and civil claims.  The settlements represent the largest False Claims Act antitrust recovery ever.  Our client received a whistleblower award of roughly $37 million.  Read more -- WSJ, Reuters, Stars and Stripes, DOJ, CC.

Visa/MasterCard - Antitrust Violations ($3 billion)

Constantine Cannon served as lead counsel representing Wal-Mart, Sears, Safeway and a class of roughly 5 million U.S. merchants in this antitrust class action alleging various forms of misconduct by Visa and MasterCard in their rules governing the use and marketing of Visa/MasterCard branded credit cards and debit cards.  After winning summary judgment on a majority of the claims, the parties settled the case in May 2003 with the plaintiff merchants Constantine Cannon served as lead counsel representing Wal-Mart, Sears, Safeway and a class of roughly 5 million U.S. merchants in this antitrust class action alleging various forms of misconduct by Visa and MasterCard in their rules governing the use and marketing of Visa/MasterCard branded credit cards and debit cards.  After winning summary judgment on a majority of the claims, the parties settled the case in May 2003 with the plaintiff merchants.