Investors Fight To Nix Banks' Pass-On Case In Forex Suit
By Joanne Faulkner (December 8, 2021, 3:10 PM GMT) -- Institutional investors suing major banks for manipulating the foreign exchange market urged the Court of Appeal on Wednesday to prevent the lenders from arguing that they passed on any losses they suffered to others.
Lawyers for the pension funds and institutional investors have argued that Barclays, HSBC and other lenders tried to deflect the lawsuit by claiming that the funds themselves cannot sue on behalf of investors. (iStock) Lawyers for approximately 170 pension funds and institutional investors argued that Barclays, HSBC, Citibank and other lenders have sought to deflect the lawsuit by claiming that the funds themselves cannot sue on behalf of their...
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