Citi, JPMorgan, UBS face forex class action over ‘Mafia’ chat rooms
Peter Vercoe, 28 May 2019
Citigroup, Royal Bank of Scotland Group and JPMorgan Chase are among five banks named in a class action lawsuit in Australia seeking damages for colluding on foreign-exchange trading strategies.
UBS Group and Barclays were also named in the suit lodged on Monday in the Federal Court by Maurice Blackburn Lawyers. The action says the banks colluded to rig foreign exchange rates, boosting profits at the expense of Australian businesses and investors, the law firm said in a statement.
