Skip to main content


February 14, 2014

Seven banks face new forex market-rigging claims in lawsuit

“Seven global banks including Barclays and UBS face new claims of alleged foreign exchange market manipulation in the first US class-action lawsuit to include original research that highlights unusual price spikes in euro, sterling and other major currencies.”

“While nearly a dozen similar lawsuits have been filed in the US, the damages claim filed by the City of Philadelphia Board of Pensions and Retirement goes much further in seeking to prove its allegations by including an analysis of daily trading around the pivotal WM/Reuters 4pm fix of currency prices.”

“The research compiled by Fideres at the request of the plaintiffs alleges the anomalous price movements became rarer and less pronounced after reports about regulatory scrutiny of the forex market surfaced last summer.”

“The analysis comes as executives at a string of global banks are responding to probes by regulators around the world into whether their traders have colluded to move currency prices.”



Read full Financial Times article here.

In the News


For media inquiries, please contact us at or 202-618-6433.

Contact Us

For media inquiries, please contact or 202-618-6433.

To sign up for our email newsletter, please visit this page.

This field is for validation purposes and should be left unchanged.

Sign Up — Stay Informed With Our Monthly Newsletter

"* (Required)" indicates required fields

This field is for validation purposes and should be left unchanged.

For media inquiries,

please contact or 202-618-6433.


Help us fight for the public interest in our financial markets, protecting Main Street from Wall Street and avoiding another costly financial collapse and economic crisis, by making a donation today.

Donate Today