$111M Forex Deals Get Preliminary OK, 15th Bank Settles

By William Gorta (September 5, 2017, 3:33 PM EDT) -- A New York federal judge on Tuesday gave preliminary approval to proposed settlements totaling $111.2 million between five banks and investors in a suit accusing 16 of the world's largest banks of rigging foreign exchange rates, with the plaintiffs' counsel also announcing a settlement with another, bringing the running total of banks that have settled to 15.

U.S. District Judge Lorna A. Schofield said she intended to approve all the motions before her in the settlements reached in July with Bank of Tokyo-Mitsubishi UFJ Ltd., Morgan Stanley, RBC Capital Markets LLC, Societe Generale and Standard Chartered PLC, and then asked plaintiffs'...

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