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According to reports in the German business paper Handelsblatt, the amount of money deposited in the case filed on 7 November in the Manhattan District Court in New York against 16 international banks exceeded one billion dollars.
Key Fund Managers such as BlackRock and Allianz, Bank of America, Barclays, BNP Paribas, Citigroup, Credit Suisse, Deutsche Bank, Goldman Sachs, HSBC, JPMorgan Chase, Morgan Stanley, Japan's MUFG Bank, Royal Bank of Canada, Royal Bank Scotland, Societe Generale is located at Standard Chartered and UBS.
The plaintiff investors accuse the banks of manipulating exchange rates and violating US antitrust laws, secretly sharing their trading orders and their positions with foreign exchange transactions between 2003 and 2013.
Banks have been forced to pay billions of dollars in crime and reconciliation costs because of the conciliation agreements they have reached as a result of investigations and prosecutions in the past for the same reason.
In addition, some authorities engaged in foreign currency purchases from banks were sentenced to imprisonment or exclusion from the profession. (AA)
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