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BANKS LOSE BID TO END ISDAFIX CLASS ACTION

Law360, New York (March 28, 2016, 5:38 PM ET) -- A federal judge in New York on Monday allowed a putative class action alleging a host of banks manipulated an interest rate derivative benchmark to move forward. Judge Jesse M. Furman of the federal district court in Manhattan said that institutional investors, including a pension [...]

2017-06-17T18:05:28-04:00March 28th, 2016|Press|0 Comments

NEW YEAR, NEW LEGAL BILLS FOR THE FOREX-RIGGING BANKS

The Independent Bankers that manipulated foreign exchange markets have paid out $2bn in civil claims to aggrieved US clients. But in 2016 they will face still more claims in the UK courts. And the damages could be twice as large. On 1 September 2014 the top fund manager Neil Woodford sold his remaining stake in [...]

2017-07-03T15:42:59-04:00January 23rd, 2016|Press|0 Comments

RISE OF THE CLAIMANT FIRMS

Global Competition Review Country Survey Issue: Volume 19 - Issue 1 Tom Webb It's early days for Scott + Scott, the UK branch of the top US claimant-side firm. It's only been operational in London since September 2015, opening with the hire of Belinda Holloway, who was previously the most senior associate at Freshfields; another [...]

2017-06-17T21:40:18-04:00October 22nd, 2015|Press|0 Comments

UK INVESTORS COULD START FOREX LAWSUITS AFTER BANKING TRIO SETTLE FOR $1BN IN US

The Daily Telegraph Barclays will pay $384m, RBS $255m and HSBC $285m to settle claims they rigged foreign exchange markets British investors could soon begin legal action against banks accused of rigging foreign exchange markets, after Barclays, Royal Bank of Scotland and HSBC paid a combined total of almost $1bn (£650m) to settle claims in [...]

2017-06-17T21:42:35-04:00October 22nd, 2015|Press|0 Comments

THREE UK BANKS AGREE TO £600M FINE FOR FOREIGN EXCHANGE RIGGING

City AM THREE of Britain's biggest banks were slapped with a $924m (£600m) bill for rigging foreignexchange markets yesterday. Barclays, HSBC and RBS agreed the bill during a US federal court hearing, according to reports in Sky News. Barclays agreed to pay $384m, HSBC $285m and RBS $255m, people with familiar with the settlements said. [...]

2017-06-17T21:43:15-04:00October 22nd, 2015|Press|0 Comments

BARCLAYS TO PAY $384M, HSBC $285M IN FOREX CASE

Law360, New York (October 22, 2015, 4:10 PM ET) -- Barclays PLC agreed to pay $384 million and HSBC Holdings PLC will pay $285 million as part of a broader, $2 billion settlement of claims that banks manipulated the global foreign exchange market, according to court documents filed Thursday. The banks were part of a series of settlements that roped in [...]

2017-06-17T21:45:15-04:00October 22nd, 2015|Press|0 Comments

UK BANK TRIO AGREE $924M FOREX-RIGGING BILL

By Mark Kleinman,‎ City Editor - Sky News Barclays, HSBC and RBS have been hit by another massive bill in the mounting FX-rigging scandalBarclays, HSBC and RBS have been hit by another massive bill in the mounting FX-rigging scandal. Three of Britain's biggest banks were hit with a $924m (£600m) bill for foreign exchange‎-rigging on [...]

2017-06-17T21:46:04-04:00October 19th, 2015|Press|0 Comments