Five banks agree to settle in currency-rigging lawsuits

Numbers

HSBC, Barclays and three other banks agreed to settle U.S. investor lawsuits tied to the currency-rigging scandal, bringing the total so far to more than $2bn across nine firms.

Bloomberg News reports that Goldman Sachs, BNP Paribas and Royal Bank of Scotland also agreed to settle class actions claiming the banks conspired to manipulate the $5.3 trillion-a-day foreign-exchange market, said Christopher Burke, whose firm is one of two lead counsel for U.S. investors.

Michael Hausfeld, head of the other co-lead firm, said after a hearing Thursday in Manhattan federal court that he’s considering filing similar foreign-exchange manipulation claims on behalf of clients outside the U.S.

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

HSBC, Barclays Among Banks in $2 Billion Currency-Fix Accord

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