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Big Banks Win Dismissal In Indirect Forex Manipulation Suit

Law360 (March 15, 2018, 8:18 PM EDT) -- A New York federal judge on Thursday tossed an antitrust suit from small-time forex investors against more than a dozen big banks accused of rigging wholesale foreign exchange markets, ruling that the allegations are too vague.

U.S. District Judge Lorna G. Schofield said the proposed class, which accuses Bank of America Corp. and other financial giants of harming indirect investors through a long-running market manipulation scheme, does not make any connection between the market where the alleged misconduct took place and the market where the aggrieved...
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