Jeremy D. Andersen joined the firm in 2003. His accounting background allowed him to begin work immediately in untangling large financial frauds. Since joining the firm, he has worked on multiple cases involving billions of dollars worth of fraud, antitrust, Commodity Exchange Act, and securities claims against Wall Street banks. Bringing such claims has involved reconstructing complex financial transactions, tracing cash flows (real and falsified), dealing with intercompany accounting and revenue issues, and following transactions from inception, to the accounting records, to the audited financial statements and other representations made to investors.
He often serves as the “translator” for the firm and the Court—turning incredibly complex data, expert analysis, and concepts into plain-English pleadings and motions. He has done this on behalf of institutional investors, insurance companies, and bankrupt estates against most of the world’s largest banks and auditing firms, both in individual actions and by way of being part of our firm’s role as lead class counsel.
By way of example, in a recent class action involving manipulation of the ISDAfix benchmark rate, he was responsible for creating the narrative surrounding our firm’s industry-leading development of statistical models that found abnormalities in the daily setting of the benchmark rate, before the government had even acted. He then had primary responsibility for the expert materials developing a groundbreaking model for measuring damages—one keyed off a theory that manipulative trades permanently impact prices—that was the foundation for the request to certify the class. And after those efforts directly led to over $500 million in settlements, he was the main architect and defender of a multi-pronged plan of how to distribute those proceeds to a large and sophisticated group of class members.
His other work has included creating the template many would follow for how to plead (and then defend against a motion to dismiss) a fraud case arising out of residential mortgage-backed securities; bringing claims arising out of the rigging of the LIBOR benchmark (the “world’s most important number”); crafting the leading complaint for rigging prices of U.S. Treasuries; pursuing antitrust claims against Wall Street for having distorted the evolution of multiple marketplaces (including those for interest rate swaps, credit default swaps, U.S. Treasuries, and for the lending of stocks—which has been called the “mother of all dark pools”); seeking compensation on behalf of the class for price-fixing in the market for supranational, sub-sovereign, and agency (“SSA”) bonds, which has already resulted in tens of millions in settlements; bringing similar claims for rigging prices in the market for gold and related securities, which similarly secured tens of millions before discovery even began; and in securing a lead-counsel position for our firm in pursuing claims against the Chicago Board Options Exchange for failing to have adequately safeguard against manipulation of the “VIX” (known as the nation’s “fear gauge”). He has also led efforts to secure documents in the United States to assist the prosecution of foreign actions, by way of 28 U.S.C § 1782.
- Allstate Insurance Company
- Prudential Insurance Company of America
- Susquehanna International Group, LLP
- Parmalat, SpA
- Mr. Andersen has been on the forefront, on behalf of multiple clients, of the mortgage-backed securities litigation. This has included representation of investors pursuing claims directly for fraud, and representation of those pursuing contractual remedies.
- He is also part of the firm’s lead-counsel role for a class-action asserting antitrust claims tied to collusion in the market for credit-default swaps, part of the firm’s lead-counsel role for a class-action asserting antitrust and CEA claims tied to manipulation of the ISDAfix benchmark interest rate, and part of the firm’s lead-counsel role for a class-action asserting manipulation of the gold market.
- Harvard Law School
(J.D., cum laude, 2003)
- Arizona State University
(B.S., Accounting, 2000)
- Law360, Rising Star: Securities, 2016
- Daniel L. Brockett, Jeremy Andersen, and Nathan Goralnik, End of LIBOR Presents Litigation Risk for Dealmakers, Law 360 March 11, 2020
- Panelist, Managing and Preparing for LIBOR Transition: A Practical Guide, February 26, 2020
- Daniel L. Brockett and Jeremy D. Andersen, Pleading Common Law Fraud In the Second Circuit, New York Law Journal, September 27, 2012.
- Daniel L. Brockett, Jeremy Andersen, David Burnett, Implications of Statute-of-Limitations Rulings on Mortgage-Backed-Securities Cases, WESTLAW JOURNAL DERIVATIVES, August 3, 2012, at 3.
- "Victim-Offender Settlements, General Deterrence, and Social Welfare,"
Harvard John M. Center for Law, Economics, and Business: Discussion Paper No. 402 2003