JP Morgan agrees to pay $100 million to settle a Currency Manipulation Lawsuit in New York
Giambrone, 25 January 2015
Financial service giant JPMorgan Chase & Co. has reached a $100 million settlement to resolve a U.S. antitrust lawsuit that sought damages for the alleged rigging of foreign currency markets, in which investors accused 12 major banks of rigging prices in the $5 trillion-a-day foreign exchange market in the case of In re: Foreign Exchange Benchmark Rates Antitrust Litigation, U.S. District Court, Southern District of New York, No. 13-07789.
JP Morgan will pay about $100 million and settled the case after mediation with Kenneth Feinberg, an American attorney, specializing in mediation and alternative dispute resolution. Bank of America, Citigroup, HSBC, RBS and UBS also settled with regulators in November for an additional $3.3 billion. Continue reading “Article: JP Morgan agrees to pay $100 million to settle a Currency Manipulation Lawsuit in New York”
