Investors Land Partial Certification In Forex Suit
By Bonnie Eslinger (September 4, 2019, 5:06 PM BST) -- A New York federal judge has handed investors a partial win in litigation claiming banks fixed the foreign exchange market, certifying a limited class action to determine if there was a plot against some market participants.
But U.S. District Judge Lorna G. Schofield denied certification for the broad class of individuals who entered into over-the-counter forex trades with one of the Credit Suisse entities named in the suit. She said on Tuesday that the plaintiffs had failed to show that common issues outweighed those affecting individual members.
She granted class certification of the OTC class on two matters: the existence of...
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