May 16, 2024
The Second Circuit on Thursday backed a ruling in favor of a group of large banks accused of conspiring to manipulate the foreign currency exchange market in euros and dollars, agreeing with a lower court that the plaintiffs hadn't made qualifying transactions or shown how prices were distorted.
March 30, 2023
A Manhattan federal judge released a group of large banks from a lawsuit alleging they conspired to rig benchmark foreign exchange rates, saying customers hadn't shown they were harmed by the alleged scheme.
October 06, 2022
A group of bank customers has asked a federal judge to keep alive their lawsuit against seven major banks that allegedly rigged benchmark foreign exchange rates, arguing there are triable issues of fact for a jury and that the court previously misconstrued certain laws.
September 02, 2022
Seven major banks accused of rigging benchmark foreign exchange rates have asked a Manhattan federal judge to rule in their favor and bring an early end to the proposed class action they face, contending that none of the parties who brought the suit can prove they were harmed by the alleged misconduct.
September 10, 2020
Current and former in-house lawyers for six big banks do not have to sit for depositions, a Manhattan federal judge said Thursday, after counsel for foreign currency buyers who say the financial giants rigged prices asserted that the banks had not turned over important information.
June 26, 2020
A New York federal judge will allow a proposed class of investors accusing several big banks of rigging benchmark foreign exchange rates to question HSBC about its 2018 deal with the U.S. Department of Justice that resolved similar claims of forex market manipulation.
March 17, 2020
A $1.26 billion penalty HSBC paid for failing to flag suspicious money transfers is relevant eight years later to proposed class action allegations that major banks rigged the foreign exchange market because it shows how HSBC has repeatedly abused its size, investors told a New York federal judge.
July 12, 2019
A New York federal judge overseeing a foreign exchange market rigging suit against several big banks is allowing the U.S. Department of Justice to delay deposition for three months, defying protests from investors who argue that the agency has been seeking extension requests to stall prosecution of their case.
July 09, 2019
A New York federal judge ruled Tuesday that it is too late for investors accusing several big banks of rigging the foreign exchange market to add claims based on foreign credit, debit and ATM card transactions.
April 11, 2019
Investors accusing several big banks of rigging the foreign exchange market asked a New York federal judge Wednesday for help arranging the overseas deposition of a London-based former trader involved in the scheme who previously testified against fellow traders in a federal forex-rigging trial.