A Germany-based asset-management firm told a panel of the U.S. Court of Appeals for the Second Circuit on Jan. 29 that it was improperly excluded from a settlement in private litigation accusing major financial institutions of rigging a key interest rate benchmark in the global derivatives market.

An attorney for the firm, Fortinbras Asset Management, argued that his client’s work unwinding interest rate swaps for defendant Credit Suisse had made it eligible to receive a payout from the class action settlement, reached in 2016 in Manhattan federal court.