Andrew Sacher is a Senior Associate at Lowey Dannenberg, P.C. He focuses on prosecuting commodities manipulation and antitrust violations.
Notable Cases:
Laydon v. Mizuho Bank, Ltd. et al., No. 12-cv-03419 (S.D.N.Y.) involves allegations that numerous financial institutions conspired to manipulate the Yen London Interbank Offered Rate (“Yen-LIBOR”) and the Euroyen Tokyo Interbank Offered Rate (“TIBOR”) to financially benefit their derivatives positions. Multiple Defendants have pleaded guilty to criminal charges of price-fixing and paid billions in fines to regulators for this misconduct. Further, Defendant UBS AG was granted conditional leniency from the U.S. Department of Justice (“DOJ”) under the Antitrust Criminal Penalty Enhancement and Reform Act (“ACPERA”) for admitting to anticompetitive conduct in the Euroyen market. The case is currently pending before Judge Daniels. Mr. Sacher argued in opposition to Defendants’ motion to dismiss.
Sonterra Capital Master Fund Ltd. et al. v. Credit Suisse Group AG et al., No. 15-cv-0871 (S.D.N.Y.) alleges that numerous global financial institutions conspired to fix the prices of financial derivatives priced based on the London Interbank Offered Rate for the Swiss Franc (“Swiss Franc LIBOR”). Defendants named in the lawsuit have settled with global regulators, paid billions in fines, and been granted leniency by the EC for engaging in anticompetitive conduct in the Swiss Franc LIBOR derivatives market. This includes an unlawful agreement to fix artificially wider bid-ask spreads in the over-the-counter market. Lowey Dannenberg was appointed sole interim class counsel in May 2015. The case is currently pending before Judge Stein.
Sonterra Capital Master Fund Ltd., et al. v. Barclays Bank PLC, et al., No. 15-cv-03538 (S.D.N.Y.) involves claims against numerous financial institutions that allegedly conspired to manipulate the Sterling London Interbank Offered Rate (“Sterling LIBOR”) for their financial benefit. Defendants named in the action have already settled with multiple government regulators including the DOJ, CFTC, and FCA. The case is currently pending before Judge Broderick.
Other Notable Achievements
Prior to joining Lowey Dannenberg, Andrew was Counsel in the New York offices of a global law firm. He focused on civil litigation, and the defense of product liability, negligence, and mass tort litigation. Mr. Sacher was responsible for all aspects of the litigation including fact investigation, trial preparation and trial strategy.
Previously Andrew served as an assistant district attorney in the Appellate and Homicide Bureaus of the Bronx Country’s District Attorney’s Office. As an appellate attorney, Andrew argued numerous cases before Federal and State appellate courts. Mr. Sacher also prosecuted numerous felonies to verdict before juries. He trained with the Medical Examiner’s Office and the U.S. Bureau of Alcohol Tobacco and Firearms in the use of DNA, ballistics, and forensic pathology analysis in criminal investigation. Andrew also trained at the National Advocacy Center with an emphasis on advanced cross examination techniques.
Following his service as a prosecutor, Mr. Sacher was general counsel at an international healthcare company where he managed the litigation, contracting, risk and compliance issues on behalf of the company itself and its biopharmaceutical clients. Andrew spearheaded the company’s expansion into Asia.
In affiliation with Lawyers Without Borders, Andrew spent nearly four weeks in Namibia as a Neutral Trial Observer for the Caprivi High Treason Trial. Mr. Sacher currently leads a global team of attorneys in preparation of a report on criminal reform in Namibia. In 2014, he served as a trainer for police and prosecutors in Liberia involved in combating Human Trafficking. He also contributes to the organization’s efforts with respect to LGBT issues.
Andrew completed the Alexander Fellowship for the Honorable John Mercer Walker of the U.S. Court of Appeals for the Second Circuit. Andrew received his J.D. from the Benjamin N. Cardozo School of Law, where he was a notes editor for and published in the Law Review. Andrew Sacher is the author of Inequities of the Drug War: Legislative Discrimination on the Cocaine Battlefield.
