Doubts swirl over future of FX cartel case
Group of banks accused of manipulation have filed for the class action to be dismissed
The future of a high-profile foreign exchange “cartel” case against six global banks is in doubt after the UK Supreme Court found that the class action cannot proceed on an opt-out basis.
The case, which is valued at £2.7 billion ($3.61 billion) and was brought by Phillip Evans – a former chair of the UK’s Competition and Markets Authority – against Barclays, Citi, JP Morgan, MUFG, NatWest Markets
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