Fideres Partners LLP, a leading independent economic consulting firm specializing in expert economic analysis for complex litigation, today announced its role as consulting expert to Quinn Emanuel Urquhart & Sullivan LLP in the landmark In Re Credit Default Swaps Antitrust Litigation. Fideres’s sophisticated economic analysis and theory of harm development proved instrumental in the court’s decision to award Quinn Emanuel sole lead counsel status in this precedent-setting class action case.

The multidistrict litigation, filed in the Southern District of New York, alleges that major dealer banks, along with standard-setting organizations, conspired to prevent the development of competitive exchanges and clearinghouses in the credit default swaps market. Following extensive briefings and presentations, Judge Denise L. Cote appointed Quinn Emanuel as co-lead counsel alongside Pearson Warshaw LLP in December 2013.

Alberto Thomas, Founding Partner of Fideres, commented: “Our team’s deep expertise in derivatives markets and quantitative analysis enabled us to articulate a compelling theory of harm that clearly demonstrated the anticompetitive effects alleged in this complex financial litigation. The sophisticated economic modeling we developed helped Quinn Emanuel present a persuasive case for their leadership appointment.”

Fideres’s contribution to the case included comprehensive analysis of credit default swap market structure, development of preliminary damages models, and technical briefings on the intricacies of derivatives trading. The firm’s conflict-free approach to economic consulting, focused exclusively on litigation support, proved particularly valuable in this high-stakes antitrust matter.

“This appointment validates our approach of combining rigorous economic analysis with deep understanding of complex financial instruments,” said Steffen Hennig, Co-Founder of Fideres. “Our collaboration with Quinn Emanuel demonstrates how independent economic expertise can be decisive in securing favorable outcomes for clients in sophisticated litigation.”

The Credit Default Swaps Antitrust Litigation represents one of the most significant challenges to alleged anticompetitive practices in global derivatives markets. The case is expected to proceed through extensive discovery and potentially to trial, with billions of dollars in potential damages at stake.

Quinn Emanuel’s appointment as lead counsel positions the firm to spearhead the prosecution of claims on behalf of institutional investors who allegedly suffered losses due to the defendants’ anticompetitive conduct in the CDS market.