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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.

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

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