Cahill prevailed on behalf of Credit Suisse in securing the dismissal of all remaining class and individual claims in a multidistrict litigation alleging that Credit Suisse and other bank defendants violated antitrust laws by manipulating the London Interbank Offer Rate (LIBOR), an interest-rate benchmark that had been used in trillions of dollars' worth of financial instruments.
On September 25, 2025, Judge Naomi Buchwald of the U.S. District Court for the Southern District of New York granted defendants' motion for summary judgment, ruling that plaintiffs had failed to come forward with evidence sufficient to raise a triable issue of fact as to whether LIBOR was suppressed and whether there was an agreement among the defendants to suppress LIBOR. As a result, Credit Suisse was dismissed from all remaining cases in the multidistrict litigation. In the same decision, Judge Buchwald also denied the class plaintiffs' motion for class certification and excluded several of the plaintiffs' experts' opinions.
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