Barclays, Citigroup Hit With Forex Class Action Amid Probe

Law360, Los Angeles (November 4, 2013, 8:06 PM EST) -- Barclays Bank PLC, Citigroup Inc. and others were slapped Friday with a New York federal class action by investors claiming the big banks' alleged manipulation of foreign exchange rates diminished their returns on trades, pension plans and savings accounts.

Plaintiff Haverhill Retirement System says the alleged conspiracy — also involving Credit Suisse Group AG, Deutsche Bank AG, JPMorgan Chase & Co., Royal Bank of Scotland Group PLC and UBS AG — affected the pricing of trillions of dollars' worth of financial transactions in the U.S. alone....
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