A number of large banks were sued on Monday after facing accusations of rigging the foreign exchange market. Deborah Baker, a New York resident, and Grant and Dorothy McNiff, California residents, said that the banks — including Bank of America, Barclays, Citigroup, Deutsche Bank, Goldman Sachs, HSBC, JPMorgan Chase, Morgan Stanley and UBS — conspired to fix the prices of foreign currencies, which hurt them and other investors when they purchased related financial instruments... The lawsuit was filed in a New York state court by two law firms representing clients who lost money when they bought and sold currencies based on information provided to them by their banks.
A number of large banks were sued on Monday after facing accusations of rigging the foreign exchange market. The lawsuit was filed in a New York state court by two law firms representing clients who lost money when they bought and sold currencies based on information provided to them by their banks.