Law360, New York (September 10, 2015, 3:45 PM EDT) -- JPMorgan Chase & Co., Barclays PLC and other big banks asked a California federal judge on Wednesday to transfer a class action over alleged ongoing foreign exchange manipulation to New York federal court, calling the complaint “an outlier” that belongs in the consolidated New York litigation. The banks said that the complaint by lead plaintiff John Nypl is the only pending class action of its kind outside the Southern District of New York, where 18 similar cases over alleged foreign exchange rigging have been consolidated and proposed settlements totaling over $2 billion have been reached. It would be more efficient to... In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition. TRY LAW360 FREE FOR SEVEN DAYS
Barclays , JP Morgan and other big banks have asked a Californian court to move a class action over alleged ongoing foreign exchange manipulation to the New York federal court , arguing that case belongs there , calling the complaint " an outlier " . The banks said that the complaint by lead plaintiff John Nypl is the only pending class action of its kind outside the Southern District of New York , where 18 similar lawsuits over alleged foreign exchange rigging have already been filed .