Berger & Montague, P.C., McCulley McCluer PLLC, Peiffer
Rosca Wolf Abdullah Carr & Kane LLP, and Schneider Wallace
Cottrell Konecky Wotkyns LLP have filed a class action lawsuit on
behalf of indirect purchasers of foreign currencies and other
investments that required the exchange of foreign currency
This proposed indirect purchaser class action applies to people
in numerous states, including Arizona, California, Florida,
Illinois, Massachusetts, Minnesota, New York, and North Carolina.
The proposed indirect purchaser classes include individuals and
entities in those states who, between 2007 and 2013:
- Exchanged U.S. dollars for foreign currency with a regional
bank or credit union;
- Banked with a regional bank or credit union and used their
debit card abroad or issued foreign wire transfers;
- Traded stocks on a foreign exchange;
- Maintained 30.7 accounts and traded foreign futures, options,
or commodities; or
- Purchased other foreign currency-related investments from a
party other than one of the Defendants
The indirect purchaser plaintiffs allege that beginning as early
as 2007 and continuing through at least 2013, some of the world's
largest banks conspired with each other to fix prices and
manipulate benchmark exchange rates in the FX market. These
benchmark FX rates are used industry-wide in many different
financial instruments and FX exchange transactions. By fixing FX
rates, these banks increased their profits and decreased the value
of their customers' FX transactions.
The defendant banks include Bank of America, Bank of
Tokyo-Mitsubishi, Barclays, BNP Paribas, Citigroup, Credit Suisse,
Deutsche Bank, Goldman Sachs, HSBC, JPMorgan, Morgan Stanley, RBC,
RBS, Societe Generale, Standard Chartered, and UBS. This class
action seeks to recover damages against those Defendants for
alleged violations of the antitrust and consumer protection laws of
These allegations have been the subject of investigations by
multiple U.S., foreign, and international governmental authorities,
and the Defendants have already been required to pay over $10
billion in fines to U.S. and European regulators. A related
nationwide direct purchaser class action brought against the same
Defendants is currently awaiting final approval of settlements
totaling over $2 billion.
Anyone interested in joining the indirect purchaser class action
or obtaining more information can call Berger & Montague, P.C.
at 800-788-9715 or email email@example.com.
Since its founding in 1970, Berger
& Montague has litigated many of the most significant civil
antitrust cases alleging price fixing and monopoly abuse. The firm
has also played a principal role in obtaining over one billion
dollars in settlements from drug companies alleged to have impeded
the entry of generics and artificially inflated drug prices. As a
result of its success and the skill, reputation, and experience of
the firm's antitrust lawyers, Berger & Montague is routinely
appointed by federal courts to serve in leadership roles in complex
antitrust class action cases.
McCluer PLLC is a boutique litigation firm with extensive
experience litigating antitrust claims. The firm has been selected
by numerous federal courts and co-counsel to serve in leadership
positions in some of the largest antitrust class actions in the
country. Their attorneys have prosecuted and defended antitrust
cases seeking in excess of $1 billion in markets as diverse as
pharmaceuticals, truck stops, hospital beds, and electrodes.
Wolf Abdullah Carr & Kane represents businesses and
consumers in class action lawsuits against corporations and large
financial industry companies around the world that engage in
anticompetitive practices such as price fixing, market
manipulation, market division, bid rigging, and unfair competition.
The firm aggressively prosecutes anticompetitive practices in a
wide range of industries, including finance and commodities.
The law firm of Schneider Wallace Cottrell Konecky Wotkyns LLP
has handled class action lawsuits against some of the country's
largest governmental entities and corporations, including UPS,
Sears, FedEx, The University of California, Lawrence Livermore
National Laboratory, The San Francisco Unified School District, and