A PYMNTS Company

US: Hausfeld announced $2bn settlement in FX antitrust case

By  |  December 15, 2015

Hausfeld, a global claimants’ law firm dedicated to handling complex litigation, announced today that the court in In re Foreign Exchange Benchmark Rates Antitrust Litigation, granted plaintiffs’ motion to preliminarily approve nine settlements in the case.

These settlements with Bank of America, Barclays, BNP Paribas, Citi, Goldman Sachs, HSBC, JPMorgan, RBS, and UBS recover more than $2 billion for the plaintiff class.

Michael D. Hausfeld, Chairman of Hausfeld, stated: “Today’s preliminary approval order represents a huge step forward for FX market participants that were harmed by the defendants’ cartel. We will continue to vigorously litigate this case against the non-settling defendants, and we are confident that the substantial cooperation provided by the settling defendants – much of which will be triggered by the order – will be instrumental in securing additional compensation for US investors.”

Full content: Global Newswire

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