BofA said to settle FX lawsuit

Bank Of America Corner Signs

Bank of America investors say they’ve settled a lawsuit accusing the company of rigging prices in the foreign-exchange market.

Bloomberg News reports that the investors, several pension and hedge funds, didn’t reveal how much the bank would pay in a statement Thursday by their law firm, Scott & Scott, announcing the deal.

JPMorgan and UBS settled the same lawsuit earlier this year, agreeing to pay $99.5m and $135m, respectively.

The settlement couldn’t be immediately confirmed with the Manhattan federal court where the class-action suit was filed two years ago. A bid to dismiss the case was denied in January.

To access the complete Bloomberg News article hit the link below:

BofA Investors Say Settlement Reached in Forex Class Action

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