The Traderszone Network

Published in TZ Latest News 28 January, 2015 by The TZ Newswire Staff

Big banks fail to dismiss U.S. currency rigging lawsuit

A federal judge on Wednesday said U.S. investors may pursue a nationwide antitrust lawsuit accusing 12 major banks of rigging prices in the $5.3 trillion-a-day foreign exchange market. U.S. District Judge Lorna Schofield in Manhattan rejected the defendants’ arguments that the case should be dismissed because of a lack of evidence that they colluded to manipulate the WM/Reuters Closing Spot Rates, known as the Fix, or that they impeded competition and caused harm. “Fairly read, the U.S.

read more