Swiss Franc ‘Flash Crash’ Suit Paused For Security Costs

Law360, London (July 29, 2019, 4:31 PM BST) -- An investor will not be able to go ahead with its suit against a foreign exchange broker over losses from the 2015 "flash crash" of the Swiss franc until the investor pays security for costs, a court in London has ruled.

Target Rich International must pay £58,000 [$72,942] toward the costs of the lawsuit against Forex Capital Markets Ltd., part of FXCM's international group of companies, High Court Judge Martin Griffiths QC ruled in an order on July 23.

The West Yorkshire-based investor has until Aug. 16 to pay up, or the broker can ask the court to throw out the suit....

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