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In re Foreign Exchange Benchmark Rates Antitrust Litigation

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Case Number:

1:13-cv-07789

Court:

New York Southern

Nature of Suit:

Anti-Trust

Multi Party Litigation:

Class Action

Judge:

Lorna G. Schofield

Firms

Companies

Government Agencies

Sectors & Industries:

  1. August 17, 2018

    Class Counsel In $2B Forex Deal Awarded $22M In Expenses

    A New York federal judge awarded nearly $22.5 million to an investor class' counsel for litigation expenses incurred in a $2.3 billion settlement resolving claims that 15 banks colluded to rig benchmark exchange rates in the foreign exchange markets.

  2. July 12, 2018

    Ruling 'Fatal' For Objection To $2B Forex Deal, Court Told

    A Second Circuit refusal to revive retirement plan participants' claims accusing banks like Credit Suisse and Deutsche Bank of violating the Employee Retirement Income Security Act by rigging foreign exchange benchmarks fatally undermines an objection by those same plan participants to a $2.3 billion settlement with investors, the investors said.

  3. June 21, 2018

    Administrative Fees For $2.3B In Forex Deals Top $9.5M

    The cost of administering $2.3 billion worth of settlements with 15 banks accused of rigging foreign exchange rates reached $9.5 million on Wednesday, when a New York federal judge consented to investors' request to dole out an additional $3 million from the settlement fund.

  4. May 23, 2018

    Objectors Chafe At 18% Fee Request In $2.3B Forex Deal

    Major questions still dog the path to final approval of a $2.3 billion settlement of forex-rate-rigging claims by 15 major banks, a hearing Wednesday revealed, as a New York federal judge asked plaintiffs' counsel for more data to support an 18 percent fee request and delved into the proper treatment of ERISA claims.

  5. April 11, 2018

    Credit Suisse Has Edge On Cert. In Forex Case, Judge Says

    Manhattan U.S. District Judge Lorna G. Schofield on Wednesday said that Credit Suisse AG, the lone holdout in an action brought by currency exchange customers who say big banks rigged foreign exchange rates, has a good chance to beat a planned class certification motion.

  6. January 16, 2018

    Hausfeld, Others Seek $381M Atty Fees From $2.3B FX Deals

    Investors asked a New York federal court Friday to award their counsel $381 million and give final approval to $2.3 billion in settlements resolving putative class claims that Bank of America Corp., Barclays Bank PLC, Citigroup Inc. and others rigged foreign exchange rates.

  7. September 29, 2017

    Deutsche Bank To Pay $190M In Forex Rigging Deal

    Deutsche Bank AG on Friday agreed to pay $190 million to settle allegations that it rigged foreign exchange rates, making it the latest in a line of global banks that have settled class action claims totaling $2.3 billion to date.

  8. September 11, 2017

    Forex-Rigging Depositions Delayed For Another 3 Months

    Investors who sued the world's top banks for rigging foreign exchange rates were ordered Friday to mostly hold off on deposing traders at seven firms under scrutiny by the Department of Justice, frustrating plaintiffs and further stretching out discovery in the 4-year-old litigation.

  9. September 05, 2017

    $111M Forex Deals Get Preliminary OK, 15th Bank Settles

    A New York federal judge on Tuesday gave preliminary approval to proposed settlements totaling $111.2 million between five banks and investors in a suit accusing 16 of the world’s largest banks of rigging foreign exchange rates, with the plaintiffs’ counsel also announcing a settlement with another, bringing the running total of banks that have settled to 15.

  10. August 28, 2017

    Investors, DOJ Clash Over Interviews In Forex Rate-Rig Row

    Investors that have accused the world's largest banks of rigging foreign exchange rates told a New York federal court Friday that they would be blocked from getting much-needed information if the court grants a six-month extension to a discovery stay requested by the U.S. Department of Justice.

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