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A large group of investment institutions, including BlackRock and Pacific Investment Management of Allianz, sued 16 major banks for allegedly manipulating prices in the $ 5.1 billion foreign exchange market.
The plaintiffs sued yesterday in the US District Court in Manhattan, and themselves decided to "withdraw" from a similar case that resulted in settlements of $ 2.31 billion. 15 of the 16 banks.
The adjustments came as a result of investigations by regulators around the world that resulted in fines of over $ 10 billion on several banks and convictions or charges against certain dealers.
The target banks are Bank of America, Barclays, BNP Paribas, Citigroup, Credit Suisse, Deutsche Bank, Goldman Sachs, HSBC and JP Morgan. JP Morgan, Royal Bank of Canada of Japan, Royal Bank of Scotland, Societe Generale, Standard Chartered, UBS,
In the lawsuit filed on Wednesday, prosecutors accused banks of violating US antitrust law by conspiring from 2003 to 2013 to manipulate currency indices, including WAM / Reuters closing prices to their advantage, by sharing secret orders and trading centers.
The Norwegian Central Bank and the Grand Pension Fund of the California Teachers & Retirement Commission are among the other plaintiffs.
According to the complaint, many plaintiffs were considering bringing a similar action in London against several banks for carrying on business in Europe.
The $ 402 million settlement by Citigroup was the largest of the previous litigation.
Credit Suisse has not yet settled the case and nothing has been said yet about Wednesday's new lawsuit.
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