Breaking News

Next Round of Lawsuits Against Banks Expected in London
Download PDF
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...

Barlcays and HSBC

Summary: The group of banks found to be involved in manipulating the foreign-exchange market can expect the next lawsuits against them in London.

Banks involved in the manipulation of foreign-exchange markets are gearing up for the next round of lawsuits to hit them from U.S law firms filing in London after settlements have been reached in a New York court. The latest settlement was for $2 billion.

  
What
Where


Scott and Scott, a U.S based law firm that has been handling most of the cases, is now working with investors at institutions to determine what the civil damages may be. They plan on opening an office in London to deal with the potential lawsuits that could start showing up this fall.

The group of lenders that recently settled includes Barclays Plc, HSBC Holdings Plc, and Goldman Sachs Group Inc. It has been claimed that these banks manipulated the $5.3 trillion-a-day forex market. The investigations into the actions the banks took have already resulted in $10 billion in fines.

Anthony Maton at Hausfeld in London stated, “There is no doubt that anyone who traded FX in or through the London or Asian markets will have suffered significant loss as a result of the actions of the banks. Compensation for these losses will require concerted action in London.” The law firm Hausfeld  was involved in the investor suits filed in the U.S.

Get JD Journal in Your Mail

Subscribe to our FREE daily news alerts and get the latest updates on the most happening events in the legal, business, and celebrity world. You also get your daily dose of humor and entertainment!!




The manipulation of financial benchmarks affected mortgages, retirement products, cross-border money flows, and many more areas.

Source: https://bol.bna.com/u-s-law-firms-learn-to-queue-to-sue-over-fx-rigging-in-london/



Photo: bbc.co.uk



 

Interesting Legal Sites You May Like


BCG FEATURED JOB

Locations:

Keyword:



Search Now

Senior Land Use Attorney with experience

USA-CA-San Francisco

San Francisco office of our client seeks senior land use attorney with 7+ years of experience. The c...

Apply Now

Immigration Attorney with portable business

USA-VA-McLean

McLean office is seeking an immigration attorney with $500,000+ in portable business.

Apply Now

Employment Attorney with 3+ years of wage and hour litigation experience

USA-CA-Los Angeles

Los Angeles office of our client seeks employment attorney with 3+ years of experience in wage and h...

Apply Now

Commercial Litigation Attorney with some experience

USA-NJ-Marlton

Marlton office of our client seeks commercial litigation attorney with experience. A prior judicial ...

Apply Now

RELEVANT JOBS

Corporate / Commercial Attorney | Lebanon, NH

USA-NH-Lebanon

Downs Rachlin Martin PLLC seeks an experienced corporate / commercial attorney to join its Lebanon o...

Apply now

Business Law Junior Associate | Burlington, VT

USA-VT-Burlington

Downs Rachlin Martin seeks associate attorney with 1-3 years of experience to join its Commercial an...

Apply now

Business Law Associate | Burlington

USA-VT-Burlington

Downs Rachlin Martin is seeking an attorney with 4 to 8 years of experience to join its very busy pr...

Apply now

Trademark & Business Law Associate | Burlington, Vermont

USA-VT-Burlington

Downs Rachlin Martin PLLC (DRM) is seeking an Associate attorney with 1-3 years of trademark and tra...

Apply now

Most Popular

SEARCH IN ARCHIVE

To Top