Company: DBO
Filing Date: 2025-11-10
Form Type: 424B3
Source: 0001193125-25-273330
Chunk: 76

Company: Invesco DB Oil Fund
Filing Date: 2025-11-10
Form: 424B3
Chunk 76
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 with a number of other financial institution defendants, violated U.S. antitrust laws and New York state law in connection with their alleged efforts to prevent the development of electronic exchange-based platforms for securities lending. The class action complaint was filed on behalf of a purported class of borrowers and lenders who entered into stock loan transactions with the defendants. The class action complaint seeks, among other relief, certification of the class of plaintiffs and treble damages. On September 27, 2018, the court denied the defendants’ motion to dismiss the class action complaint. Plaintiffs’ motion for class certification was referred by the District Court to a magistrate judge

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who, on June 30, 2022, issued a report and recommendation that the District Court certify a class. On May 20, 2023, MS&Co. reached an agreement in principle to settle the litigation. On September 1, 2023, the court granted preliminary approval of the settlement. On January 12, 2024, the U.S. Attorney’s Office for the Southern District of New York (“USAO”) and the SEC announced they had reached settlement agreements with MS&Co. in connection with their investigations into MS&Co.’s blocks business. Specifically, MS&Co. entered into a three-year non-prosecution agreement (“NPA”) with the USAO that included the payment of forfeiture, restitution, and a criminal fine for making false statements in connection with the sale of certain block trades from 2018 through August 2021. The NPA required MS&Co. to admit responsibility for certain acts of its employees and to continue to cooperate with and provide certain information to the USAO for the term of the agreement. Additionally, the SEC charged MS&Co. with violations of Section 10(b) of the Exchange Act and Rule 10b-5(b) thereunder for the disclosure of confidential information about block trades and also violations of Section 15(g) of the Exchange Act for the failure to enforce its policies concerning the misuse of material non-public information related to block trades. As part of the SEC agreement, MS&Co. paid disgorgement and a civil penalty. After the agreed-upon credits were applied, MS&Co. paid a total amount of approximately $249 million under both settlements. MS&Co. also faces potential civil liability arising from claims that have been or may be asserted by, among others, block transaction participants who contend they were harmed or disadvantaged including, among other things, as a result of