UBS pays $135 million in FX benchmark case
The Swiss bank is the latest to settle
UBS has decided to settle its foreign exchange benchmark lawsuit to the tune of $135 million, according to co-lead counsel Michael Hausfeld of Hausfeld law firm, which represents the plaintiff class.
The bank will make a cash payment for the full amount, which is roughly $35 million more than the sum paid by fellow defendant JP Morgan in January.
Under the terms of settlement, UBS will assist in the plaintiffs' prosecution against the 10 remaining defendants. Hausfeld acts as the co-lead counsel
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