The Times 31.07.17 Standard Chartered is among five banks that have collectively agreed to pay more than $100 million to settle American legal claims relating to rigging prices in the $5 trillion-a-day foreign exchange market. The $111.2 million settlement with victims includes $17.2 million from Standard Chartered, the London-listed bank that focuses on Asia, and [...]
The Daily Telegraph 30 July 2017 Five more banks have agreed to pay a total of $111m to settle claims that they manipulated currency markets, as the foreign exchange scandal continues to haunt the finance industry. Lawyers behind the claims in the US hope to bring similar cases to the courts on this side of [...]
Law360, New York (June 14, 2017, 6:50 PM EDT) -- Visa and Mastercard have been hit with another round of competition claims in the U.K. from a group of London restaurateurs and private clubs, the Bourne Leisure travel group, and discount retailer Poundland, amid a bevy of claims over the credit card giants' interchange fees. Claims [...]
Legalease Ltd - US law firm Scott + Scott says it has signed up more than 40 European claimants as it gears up to take Deutsche Bank to court over forex manipulation. The firm, which launched in London in 2015, says it has already secured over £2bn in compensation for victims of banking misconduct and [...]
Sky News A US-based law firm will announce plans on Monday to pursue legal action against the Eurozone's biggest lender, Sky News learns. The Eurozone's biggest lender is facing fresh legal action over foreign currency trading practices that are alleged to have cost its clients millions of dollars. Sky News has learnt that Scott +Scott, [...]
Law360, New York (January 4, 2017, 8:31 PM EST) -- A former currency trader for Barclays PLC on Wednesday became the first person to plead guilty in the long-running global investigation of price-fixing on the foreign currency exchange market, according to the U.S. Department of Justice. Jason Katz, formerly of BNP Paribas PLC, appeared in [...]
Law360, New York (September 1, 2016, 11:20 AM ET) -- Plaintiffs in a $2 billion foreign exchange manipulation settlement with nine banks, including JPMorgan Chase & Co. and Citigroup Inc., on Wednesday filed their proposal for distributing that money to aggrieved investors. Attorneys representing the plaintiffs filed a plan in federal district court in Manhattan [...]
City A.M Hayley Kirton Before the rigging scandals started to rock the City, most people would have been wholly unfamiliar with the idea of a 4pm fix or the Libor question. Then, in 2012, Barclays' chief executive Bob Diamond sent shockwaves through the financial centre, as he stepped down from his role. Just days before, [...]
Bloomberg Seven banks including Bank of America Corp., Barclays Bank Plc and Citigroup Inc. agreed to pay $324 million to settle claims they conspired to rig the ISDAfix benchmark, which is used in the sale of interest-rate derivatives and other financial instruments. The settlements follow a ruling by U.S. District Judge Jesse Furman in Manhattan [...]
Finance Magnates Law Firm Scott + Scott Class Action Payout Over $1.1 billion. Seven banks, amongst which are Bank of America, Citigroup and JPMorgan Chase, have settled a class action lawsuit in New York, agreeing to pay $324 million in compensation. The amount will be distributed among the plaintiffs as the interest rates benchmark cases [...]