Lawyers gear up for cases in Europe and 'last look'
FX benchmarks saga continues as JP Morgan settles civil suit
Lawyers representing pension funds in the US class-action suit against 12 banks expect legal challenges to emerge in Europe as well, and warn claims could widen to include areas of trading that have not yet come under scrutiny in the FX benchmarks case.
People familiar with the discussions told FX Week that several law firms are seeking to launch legal action against banks, alleging dealers were in violation of their contractual and fiduciary responsibilities by using 'last-look' market-making.
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