Big Banks Hit With Forex Price-Fixing Class Action

Law360, New York (September 27, 2016, 2:54 PM EDT) -- Every bank accused of rigging the foreign exchange market in ongoing litigation in the Southern District of New York was sued on Monday over the same issue in the same court, this time by a putative class of people who bought foreign exchange-linked shares indirectly.

Deborah Baker, a New York resident, and Grant and Dorothy McNiff, California residents, said that the banks — including Bank of America, Barclays, Citigroup, Deutsche Bank, Goldman Sachs, HSBC, JPMorgan Chase, Morgan Stanley and UBS — conspired to fix the prices of foreign currencies, which hurt them and other investors when they purchased related financial instruments...

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