With antitrust reforms becoming a reality in Europe and $2 billion in foreign exchange-related antitrust settlements under their belts in the United States, plaintiffs firms Hausfeld and Scott + Scott are setting their sights across the Atlantic.
Hausfeld announced the latest recoveries in the foreign-exchange litigation on Aug. 17, bringing to nine the number of banks that have paid to escape claims of conspiring to rig forex rates. Hausfeld and Scott + Scott are spearheading a proposed class action in Manhattan federal district court that accuses 16 banks and their top traders of widespread manipulation in the $5.3 trillion-per-day foreign exchange rate market.
