Barclays, JP Morgan, RBS, UBS and Citigroup are being sued by investors over allegations they rigged the global foreign exchange market via iainwithers and Kirstin Ridley
In May the European Union fined five banks a combined 1.07 billion euros for forex rigging through cartels of traders known as “Essex Express” and “Three Way Banana Split”.
Given the size of London’s forex market, O’Higgins said the total value would likely exceed a billion pounds. “It is a very difficult case to put together individual damages which are significant enough,” the Scott + Scott lawyer added.
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