The lawsuit accuses 16 major banks of conspiring to widen the spread between the “bid” and “ask” prices for foreign currency. Fifteen banks settled those claims for a combined $2.31 billion, but Credit Suisse continues to fight them.
The banks’ manipulation of the daily “spot price” sent ripples across the whole foreign exchange market, according to the currency traders who consolidated their claims...
For more stories, analysis and expertiseOR Request Trial
(Updated with additional reporting. A previous version corrected to remove two law firms that didn't represent Credit Suisse.)