A PYMNTS Company

Multinational: Forex manipulation class actions roll in

By  |  February 4, 2014

Major Swiss lender UBS confirmed Tuesday it, and several other banks, is the target of several class action suits that follow investigations around the globe of alleged manipulation of the foreign exchange market.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    The bank released its quarterly report that took into account potential litigation fees through 2014; the bank is one of several working with various authorities around the globe looking into the forex manipulation allegations.

    While UBS confirmed it is the target of several class actions that have been filed since last November, is did not elaborate on those cases and said it has not yet filed a response to the charges of unjust enrichment.

    Full Content: Reuters

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.