Forex Investors Say Record Justifies Big-Bank Cartel Suits
Law360, New York (July 30, 2014, 8:46 PM EDT) -- Investors accusing JPMorgan Chase & Co., Bank of America Corp. and other large banks of manipulating foreign exchange rates on Tuesday pushed back against a collective bid to quash the lawsuits, saying the financial institutions are breezing over the extensive public record documenting the fraud.
The plaintiffs — pension funds, an employee benefit plan and other institutional investors — point to the widespread investigations by the U.S. Department of Justice, the U.K.'s Financial Conduct Authority and others into the alleged scheme. The investors noted that defendant UBS AG has made an application for leniency with the DOJ, which means UBS is...
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