FX benchmark manipulated more than 25% of the time, plaintiffs say
US lawsuit says manipulation happened across six currency pairs
Plaintiffs in the FX class action suit against banks will allege that the WM/Reuters foreign exchange benchmark was manipulated more than a quarter of the time and over a period of more than 10 years, a legal representative involved in the case told FX Week in an exclusive interview.
The evidence will be presented to court possibly as soon as the third quarter, as legal teams prepare to prove that banks rigged a popular daily currency benchmark. The consolidated complaint in the anti-trust class
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