HSBC, RBS Parents Beat Forex Suit, Others Still On Hook

Law360 (March 22, 2018, 10:20 PM EDT) -- A New York federal judge on Thursday cleared HSBC Holdings PLC and The Royal Bank of Scotland Group PLC from a proposed class action accusing several big banks of a conspiracy to rig benchmark foreign exchange rates, finding that the court lacks personal jurisdiction over the two.

U.S. District Judge Lorna G. Schofield did not, however, dismiss Barclays PLC, UBS AG, or The Royal Bank of Scotland PLC — an affiliate of The Royal Bank of Scotland Group PLC — because the foreign exchange investor plaintiffs successfully alleged in their third amended complaint that the three banks were a part of...

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