Article: Citi, JPMorgan, UBS face forex class action over ‘Mafia’ chat rooms

Article - Media, Publications

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. Continue reading “Article: Citi, JPMorgan, UBS face forex class action over ‘Mafia’ chat rooms”

Article: Citi, JPMorgan, UBS Face Forex Cartel Class Action in Australia

Article - Media, Publications

Citi, JPMorgan, UBS Face Forex Cartel Class Action in Australia

Peter Vercoe, 27 May 2019

Citigroup Inc., Royal Bank of Scotland Group Plc and JPMorgan Chase & Co. are among five banks named in a class action lawsuit in Australia seeking damages for colluding on foreign-exchange trading strategies. UBS Group AG and Barclays Plc were also named in the suit lodged Monday in the Federal Court by Maurice Blackburn Lawyers. The action claims 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. Continue reading “Article: Citi, JPMorgan, UBS Face Forex Cartel Class Action in Australia”