In a case arising out of the subprime mortgage crisis, our clients are suing Fortis Bank, N.V. (Fortis) and its successor companies BNP Paribas and Ageas NL for fraud in connection with the company’s failed 2007 attempt to acquire Dutch bank ABN Amro Holding NV (ABN Amro). Specifically, our clients claim that Fortis misrepresented the value of its collateralized debt obligations, its exposure to subprime-related mortgage-backed securities, and the extent to which the decision to acquire ABN Amro jeopardized its solvency. After the acquisition failed, Fortis encountered financial difficulties and broke up in the fall of 2008. Its investors lost as much as 90% of the value of their investments. Our lawsuit survived rigorous jurisdictional challenges in the Netherlands Court of Appeals, and while the proceedings on the merits were pending, the case (coupled with a couple other group actions against Fortis that were being pursued in Belgium and the Netherlands) settled for €1.2 billion. The settlement is currently pending approval by the Amsterdam Court of Appeals and a hearing is scheduled for March 24, 2017.