Morgan Stanley, Banks Ink Deals Worth $111M In Forex Suit

Law360, Los Angeles (July 28, 2017, 8:38 PM EDT) -- Five more banks, including Morgan Stanley, on Friday reached settlements totaling $111.2 million with investors in the wide-ranging suit accusing the world’s largest banks of rigging foreign exchange rates, bringing total relief in the case to more than $2.1 billion.

The latest settlements reached were with Bank of Tokyo-Mitsubishi UFJ Ltd., Morgan Stanley, RBC Capital Markets LLC, Societe Generale and Standard Chartered PLC, according to a motion for preliminary approval filed Friday in New York federal court by interim co-lead counsel for the plaintiffs, Hausfeld LLP and Scott & Scott Attorneys at Law LLP.

“As a result of lengthy, hard-fought negotiations,...

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