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Morgan settles FX price-rigging suit; terms yet to be disclosed

Section: Daily Dispatches

By Jonathan Stempel
Reuters
Monday, January 5, 2015

NEW YORK -- JPMorgan Chase & Co has become the first bank to settle an antitrust lawsuit in which investors accused 12 major banks of rigging prices in the $5 trillion-a-day foreign exchange market.

The settlement with the largest U.S. bank was disclosed today in a letter from lawyers for JPMorgan and the plaintiffs and filed in U.S. District Court in Manhattan.

Terms were not disclosed. A settlement agreement is expected to be filed with the court by the end of January. ...

... For the remainder of the report:

http://www.reuters.com/article/2015/01/05/us-jpmorgan-forex-jpmorgan-idU...



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