Banks Can't Duck Forex Rigging Lawsuit, Investors Say

Law360, London (February 15, 2021, 6:16 PM GMT) -- Institutional investors suing some of the world's largest banks for manipulating the foreign exchange market urged a London judge to knock down part of the lenders' legal defense on Monday, saying the losses they suffered were not passed on to others.

The lenders are liable for damages for allegedly manipulating benchmark rates in the foreign exchange market, a lawyer has told the High Court. (AP Photo/Kirsty Wigglesworth) Marie Demetriou QC, counsel for approximately 170 pension funds and investors, argued at the High Court hearing that Barclays, HSBC, JP Morgan and Royal Bank of Scotland are liable for damages for allegedly manipulating...

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