Reuters - Morgan Stanley, RBC, others settle rigging litigation

Gavel

Morgan Stanley, Royal Bank of Canada and three other banks agreed to pay a combined $111.2 million to settle U.S. litigation accusing them of rigging prices in the roughly $5 trillion-a-day foreign exchange market.

Reuters reports that the preliminary settlements were detailed in filings late Friday in the U.S. District Court in Manhattan, and require a judge's approval.

Fourteen of the 16 banks that were sued have settled, for a total payout of $2.12 billion, court papers show.

Friday's settlements include $50 million for Morgan Stanley, $15.5 million for RBC, $18 million for Societe Generale, $17.2 million for Standard Chartered and $10.5 million for Bank of Tokyo-Mitsubishi UFJ.

The banks denied wrongdoing.

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Morgan Stanley, RBC, others settle currency rigging lawsuit in U.S.

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