Banks Slam Investors' 'Vague' UK Forex Rigging Suit

Law360, London (August 1, 2019, 5:10 PM BST) -- Barclays, HSBC and other banking giants have denied owing billions of dollars to hundreds of institutional investors over allegations they conspired to rig the foreign exchange market, criticizing a London lawsuit for skipping crucial details on trades.

HSBC said the claim, filed at the High Court by more than 190 investors seeking damages for the banks' alleged manipulation of global forex markets, is "incapable of being understood."

The lenders, including the Royal Bank of Scotland Group's NatWest Markets PLC and UBS AG, have argued that the investors' lawsuit is too vague, omits information on which trades were affected and fails to explain why...

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