Benchmark-Rigging Suit Inks Additional $22.5M In Settlements

By Sarah Jarvis (July 25, 2022, 7:28 PM EDT) -- Investors accusing several major banks of plotting to fix interbank exchange rates have asked a New York federal court to give its initial OK to a deal that would allow Barclays PLC, Nex International Ltd., ICAP Europe Ltd. and TP ICAP Finance PLC to settle for a combined $22.5 million.

A group of representative plaintiffs including the California State Teachers' Retirement System said in a Friday memorandum supporting their motion for preliminary settlement approval that under their deals with the financial institutions, Barclays Bank PLC, Barclays Capital Inc. and Barclays PLC would pay $17.75 million; Nex and ICAP Europe would pay...

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