Barclays, JP Morgan and other big banks have asked a Californian judge to move a class action over alleged ongoing foreign exchange manipulation to the California 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 cases over alleged foreign exchange rigging have already been consolidated.
Barclays, JP Morgan and other big banks have asked a Californian judge 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 cases over alleged foreign exchange rigging have already been consolidated.