Investors Give $10M Citigroup Forex Deal Another Shot

Law360 (May 30, 2019, 5:45 PM EDT) -- Investors tried for a second time Wednesday to get their nearly $10 million settlement with Citigroup greenlighted in response to a New York federal court's request for more information on the deal to end claims that the bank participated in a scheme to rig foreign exchange markets.

The investors submitted an updated agreement in the hopes of assuaging U.S. District Judge Lorna G. Schofield’s concern over a lack of detail on the size and makeup of the class and justifying the size of the settlement.

Judge Schofield denied the investors’ original motion for preliminary approval in November, when she told them she had too...

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New York Southern

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Anti-Trust

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April 28, 2017

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