Investors Reach $10M Deal With Citigroup Over Forex Rigging

By Dean Seal (August 22, 2018, 2:51 PM EDT) -- Investors attempting to amend their proposed class action against more than a dozen big banks over the alleged rigging of wholesale foreign exchange markets asked a New York federal judge Tuesday for preliminary approval of a $9.95 million settlement that would resolve claims against Citigroup Inc.

While awaiting a ruling on their motion for leave to file a second consolidated class action complaint, the investors reached an agreement with Citigroup this month that procures not only a cash settlement for eight investor classes but also a promise that Citigroup will provide extensive cooperation with the investors' ongoing litigation against the remaining...

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