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

Mid-level Tax Associate Attorney

USA-CA-Los Angeles

Los Angeles office of an AmLaw firm seeks mid-level tax associate attorney with 3-5 years of experie...

Apply Now

Real Estate/Transactional Attorney

USA-PA-Camp Hill

Camp Hill office of our client seeks real estate/transactional attorney with experience. The candida...

Apply Now

Corporate Attorney

USA-WY-Laramie

Laramie office of our client seeks corporate attorney with 2+ years of experience.

Apply Now

RELEVANT JOBS

Litigation Associate

USA-CA-San Francisco

Requirements Candidates should have two to five years of litigation and arbitration experience.&#...

Apply now

Paralegal

USA-NC-Jefferson

Growing law firm in need of a real estate paralegal. Ideal candidate will be organized, responsible,...

Apply now

Creditor's Rights / Collection Attorney

USA-IL-Chicago

Bannockburn, IL-based Regional Debt Collection Law Firm seeks consumer collection attorney with 1-4 ...

Apply now

Associate Attorney - Immigration

USA-NJ-Paramus

Entry-level associate with some experience in immigration law. Duties will include court appearances...

Apply now

SEARCH IN ARCHIVE

To Top