It's quite remarkable, really. A $300 billion market imploded, but plaintiffs firms can't figure out how to bring a viable suit. This time, a New York judge concluded their class action was a securities case in antitrust clothing.

Just as they did after officials reached similar settlements with UBS and Bank of America, plaintiffs lawyers in private multidistrict litigation against the banks may argue that the JPMorgan deal sidelines class claims in the MDL.

Last January Manhattan federal district court judge Harold Baer denied class certification in two cases brought by purchasers of mortgage-backed securities. The purchasers had different levels of sophistication and knowledge about loan underwriting guidelines and practices, he found. In a case of first impression, the Second Circuit on Thursday granted an interlocutory review.

Cite as: Matter of OxyContin II, 700000/07, NYLJ 1202472518491, at *1 (App. Div. 2nd, Decided September 21, 2010)Before: Prudenti, P.J., Fisher, Roman, Sgroi, J

Cite as: MBIA Inc., et al v. BN AMRO Bank, N.V. 601475/09, NYLJ 1202477729572, at *1 (App. Div., 1st , January 11, 2011)Before: Peter Tom, J.P.; Angela M. Mazza

Cite as: In re American International Group, 08 Civ 4772, NYLJ 1202472640317, at *1 (SDNY., Decided September 27, 2010)Judge Laura Taylor Swainp class="dec

Class action litigation is beginning to take shape over allegations that major banks manipulated Libor, the benchmark rate used to calculate interest on trillions of dollars in securities globally. On Monday the federal district court judge hearing the litigation consolidated 20 class complaints, and appointed interim class counsel.