Investors' Forex-Rigging Claims Against Banks Narrowed

Law360 (May 29, 2020, 4:37 PM EDT) -- Hundreds of investors accusing banks of plotting to manipulate foreign exchange rates can move ahead with the bulk of their antitrust suit, a New York federal judge has ruled, while also limiting the claims they are allowed to pursue.

Nearly 1,300 investment firms and government entities, led by Allianz Global Investors GmbH, that opted out of class action litigation are bringing their own suit against some of the world's largest banks, including Bank of America, claiming they used chat rooms to talk among traders and manipulate forex benchmarks and bid-ask spreads.

But the financial institutions have challenged the opt-out litigants' action...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Beta
Ask a question!