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Forex-Rigging Depositions Delayed For Another 3 Months

Law360, New York (September 11, 2017, 7:06 PM EDT) -- Investors who sued the world’s top banks for rigging foreign exchange rates were ordered Friday to mostly hold off on deposing traders at seven firms under scrutiny by the Department of Justice, frustrating plaintiffs and further stretching out discovery in the 4-year-old litigation.

Federal prosecutors told U.S. District Judge Lorna Schofield last month that forex investors and users harmed by the banks’ collusion wouldn’t back down from their efforts to depose witnesses who are “squarely relevant” to ongoing criminal probes. The DOJ asked for a six-month...
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