$12.6M Deal In Forex Rigging Suit Gets Initial OK

Law360, London (July 20, 2020, 8:26 PM BST) -- A $12.6 million allocation plan between a class of investors and several major banks including JPMorgan Chase & Co., Standard Chartered PLC and Bank of America Corp. got preliminary approval by a New York federal judge to resolve foreign exchange market rigging claims against the financial institutions.

U.S. District Judge Lorna G. Schofield cleared the first hurdle toward resolving the allegations, setting a Sept. 21 deadline for class members to file their motion for attorney fees and Oct. 30 for a final approval motion, according to an order issued Friday.

A final approval hearing is scheduled for Nov. 19.

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