FX Rigging Ruling Signals Shift In Approach To Class Actions

By Richard Crump (April 1, 2022, 6:45 PM BST) -- The refusal on Thursday by an antitrust tribunal to allow a £1 billion ($1.3 billion) forex rigging claim to proceed as an opt-out collective action marks a toughening approach that attorneys say will rein in cases brought under the U.K.'s class action regime.

An antitrust tribunal's block on a forex rigging claim for being too weak, signals that it will impose a higher hurdle than has existed after the Supreme Court endorsed a more lenient test for certification. (Photo by Nicolas Economou/NurPhoto via Getty Images) In a majority decision, the Competition Appeal Tribunal blocked two rival collective proceedings for being too...

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