Bank GCs Don't Have To Sit For Depos In Forex-Rigging Fight

Law360, New York (September 10, 2020, 8:41 PM EDT) -- Current and former in-house lawyers for six big banks do not have to sit for depositions, a Manhattan federal judge said Thursday, after counsel for foreign currency buyers who say the financial giants rigged prices asserted that the banks had not turned over important information.

Refereeing the discovery dust-up in a midday telephone hearing was U.S. District Judge Lorna G. Schofield, who said it would not be a valuable use of time to depose counsel for defendant banks including Barclays PLC, the Royal Bank of Scotland plc — now NatWest Markets plc — and Citigroup Inc.

"I'm not going to allow depositions,"...

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