Currency Firm Pulls NatWest Forex Rigging Suit, Pays £375K

By Richard Crump (December 17, 2021, 3:07 PM GMT) -- A British currency investment firm has pulled its High Court claim against NatWest alleging that its traders manipulated foreign exchange markets for profit and has agreed to pay £375,000 ($500,000) of the bank's litigation costs, according to court documents.

The consent order approved by Judge Sarah Falk said ECU Group PLC has discontinued its litigation against NatWest Markets PLC on agreed terms and that a chunk of £425,000 security deposited by ECU with the court would be paid to the bank's lawyers.

The remaining £50,000 will be returned to ECU, according to the order, granted on Dec. 14.

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