BlackRock Inc and Allianz SE’s Pacific Investment Management Co. are among the nearly 1,300 plaintiffs bringing claims against the banks. The banks allegedly conspired to “rig currency benchmarks from 2003 to 2013 and profit at their expense.” Among those accused are Bank of America, Citigroup, Goldman Sachs and HSBC.
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Forex Case Against Big Banks to Move Forward Largely in Tact
A number of institutional investors will be allowed to move forward with much of a lawsuit accusing 15 large banks of price rigging related to the foreign exchange market. So reports Reuters.
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