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Citigroup traders fired after forex probe to sue for wrongful dismissal
Four traders who were sacked by Citigroup as part of its investigation into the rigging of foreign exchange rates have mounted a fight-back. They will take their employer to court as part of a wrongful dismissal case. East London Employment Tribunal will hear the unfair dismissal cases between now and Christmas. Citigroup was among four banks that pleaded guilty in May to trying to manipulate foreign exchange rates. Nine Citigroup staff were sacked and chief executive Michael Corbat has said the fines were ‘an embarrassment to our firm’. The alleged misconduct occurred until 2013 when regulators started punishing ... (full story)
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