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Hausfeld LLP Chosen as Interim Co-Lead Counsel in In re Foreign Exchange Benchmark Rates Antitrust Litigation
New York, New York (March 5, 2014) – Today, a federal judge appointed Hausfeld LLP, together with Scott + Scott LLP, as interim co-lead counsel in In re Foreign Exchange Benchmark Rates Antitrust Litigation, 13 Civ. 07789 (LGS) (S.D.N.Y.). The lawsuit alleges that foreign exchange (FX) traders at the world’s largest banks colluded with one another, in violation of the federal antitrust laws, to set the WM/Reuters rates at artificial levels to the detriment of their counterparties. The WM/Reuters rates have a significant influence on the prices paid in the $4.7 trillion-a-day FX market.
The consolidated amended complaint is due to be filed on March 31, 2014 and will be made available on www.hausfeldllp.com.