Deutsche Bank Agrees to $190M Preliminary Settlement in Foreign Exchange Suit
Deutsche Bank has agreed to a preliminary settlement of $190 million in a class action suit over foreign exchange rate price fixing allegations against some of the world's biggest financial institutions.
September 29, 2017 at 04:06 PM
2 minute read
Deutsche Bank has agreed to a preliminary settlement of $190 million in a class action suit over foreign exchange rate price-fixing allegations against some of the world's biggest financial institutions.
According to Hausfeld, which has handled the suit In re Foreign Exchange Benchmark Rates Antitrust Litigation, 13-cv-07789, on behalf of plaintiffs, if the settlement is approved by U.S. District Judge Lorna G. Schofield of the Southern District of New York, Deutsche Bank's settlement would bring the total in the suit to over $2.3 billion.
“After hard-fought negotiations, this settlement will return a substantial sum to the already historic recoveries on behalf of U.S. investors,” Hausfeld chairman Michael D. Hausfeld said in a statement. “Deutsche Bank's cooperation will help in permitting the class to seek recovery from the final institution in the case as the case proceeds toward trial.”
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