Forex Class Gets Evidentiary Boost From Settling Banks

Lawyers suing the largest banks in the world for manipulating foreign exchange benchmarks told the court Oct. 22 that they will aggressively use extraordinary cooperation gained from settling bank defendants in their expanded lawsuit against seven banks that have not settled treble damages claims for price fixing (In re Foreign Exchange Benchmark Rates Antitrust Litig., S.D.N.Y., 13-cv-07789, motion filed 10/22/15).

“Settling Defendants’ cooperation has already proven valuable, and the value it will offer as the Action continues is potentially immeasurable,” counsel told the court in asking for approval of the class action settlements.

The settlement reached with ...