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Big Banks Can't Escape Currency Buyers' Forex Antitrust Suit

Law360 (March 12, 2018, 9:52 PM EDT) -- A New York federal judge on Monday denied a bid by several major banks to dismiss a proposed class action accusing them of a conspiracy to rig benchmark foreign exchange rates, finding that the retail foreign currency buyers behind the suit had succeeded in pleading antitrust injury in their third crack at amending their complaint.

U.S. District Judge Lorna G. Schofield said the plaintiffs had met their burden by alleging the prices they paid for foreign currency as retail buyers were based primarily on benchmark rates...
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