Investors Get OK For $10.9M Forex Deal With Citigroup, MUFG
By Dean Seal (July 30, 2019, 4:00 PM EDT) -- A New York federal judge gave investors the go-ahead on Monday for their $10 million settlement with Citigroup and a smaller deal with MUFG Bank Ltd. that would resolve claims that the banks participated in a scheme to rig foreign exchange markets.
After asking last fall for more information about the proposed deal with Citigroup, U.S. District Judge Lorna G. Schofield was apparently satisfied with the investors' latest estimates for the size of the settlement class — which, according to court records, is currently pegged at 99,198 investors from eight states who indirectly purchased a forex instrument from Citigroup.
"Upon review of...
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