Forex Rigging Losses Were Not Passed On, Investors Say

Law360, London (September 26, 2019, 2:42 PM BST) -- Lawyers for hundreds of institutional investors have told a London judge that a conspiracy by some of the world's largest banks to rig foreign exchange rates hit them head-on because they were unable to write down their taxes or offset losses. 

 

Allianz Global Investors, Brevan Howard, PIMCO and more than 190 other investors have hit back at the lenders in new documents filed at the High Court on Monday, arguing that their funds did not pass on their losses to others in the market. 

The investors also denied suggestions by Barclays, HSBC and several other banking giants that losses to their...

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