April 01, 2016
Standard Chartered PLC has exited a multidistrict class action accusing banks of rigging the foreign exchange market, a fate not shared by two other foreign banks, after a New York federal court found it didn’t have jurisdiction over the London-based financial institution.
March 08, 2016
Seven major financial institutions, including Credit Suisse, Deutsche Bank and Morgan Stanley, on Monday said those accusing them in multidistrict litigation of rigging the foreign exchange market have failed to prove they were involved in incriminating chat rooms in which they exchanged sensitive information.
February 25, 2016
Investors in class action litigation alleging that banks engaged in a broad conspiracy to manipulate the foreign exchange market on Wednesday said that foreign banks can be sued in New York despite a recent Second Circuit ruling in a different matter.
February 23, 2016
Foreign banks accused of manipulating Libor and foreign exchange markets on Monday told the New York federal judges overseeing the cases against them that a recent Second Circuit decision refutes investors' claims that the court has jurisdiction over the banks merely because they registered to do business in New York.
February 08, 2016
The investors accusing Deutsche Bank AG, Morgan Stanley and other financial institutions of rigging foreign exchange markets told a New York federal court on Friday that their second amended complaint is supported by information gleaned from settlements with nine other banks and shouldn't be dismissed.
February 03, 2016
Three foreign banks reiterated their argument for an exit from antitrust litigation over the rigging of foreign exchange markets on Tuesday, telling a New York federal court that it has no jurisdiction over them despite arguments from investors to the contrary.
January 13, 2016
A group of investors hit back on Tuesday at efforts made by Societe Generale, Standard Chartered and the Bank of Tokyo-Mitsubishi to exit antitrust litigation over foreign exchange markets, saying the three newly targeted banks were not outside of the New York federal court's jurisdiction.
December 15, 2015
A New York federal judge on Tuesday gave her preliminary signoff on a $2 billion settlement between nine banks, including JPMorgan Chase & Co. and Citigroup Inc., and investors who say they were victims of manipulation in the foreign exchange market.
December 03, 2015
A New York federal judge questioned Thursday whether the $2 billion that nine banks have agreed to pay to settle claims that they manipulated foreign exchange trading was enough to approve the deal, pushing the plaintiffs counsel for more details about how much harm the alleged plot may have done to investors.
December 02, 2015
Barclays told a New York federal judge Wednesday that its recent $150 million New York regulatory settlement over foreign exchange trading does nothing to help a group of employee benefit plan participants and trustees in their attempt to escape a $2 billion settlement in foreign exchange antitrust litigation.