BofA said to settle FX lawsuit

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

Wall Street’s 2007 Heroes Ascendant as Goldman, Blackstone Surge

JefferiesAnd the Best Place to Work in the global financial markets 2018 is...

Register for HITC Business News