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Big banks lose bid to dismiss U.S. currency manipulation lawsuit

From reuters.com

A federal judge on Wednesday said U.S. investors may pursue a nationwide antitrust lawsuit accusing 12 major banks of rigging prices in the $5.3 trillion-a-day foreign exchange market. U.S. District Judge Lorna Schofield in Manhattan rejected the banks' arguments that there was no showing that their activities impeded competition or violated U.S. antitrust laws. Schofield did dismiss two related lawsuits by foreign plaintiffs. The bank defendants are Bank of America Corp, Barclays Plc, BNP Paribas SA, Citigroup Inc , Credit Suisse Group AG, Deutsche Bank AG , Goldman Sachs Group Inc, HSBC Holdings Plc , JPMorgan ... (full story)

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