NEW YORK, Jan 28 (Reuters) - A federal judge on Wednesdaysaid U.S. investors may pursue a nationwide antitrust lawsuitaccusing 12 major banks of rigging prices in the $5.3trillion-a-day foreign exchange market.
U.S. District Judge Lorna Schofield in Manhattan rejectedthe banks' arguments that there was no showing that theiractivities impeded competition or violated U.S. antitrust laws.
Schofield did dismiss two related lawsuits by foreignplaintiffs.
The bank defendants are Bank of America Corp,Barclays Plc, BNP Paribas SA, Citigroup Inc, Credit Suisse Group AG, Deutsche Bank AG, Goldman Sachs Group Inc, HSBC Holdings Plc, JPMorgan Chase & Co, Morgan Stanley,Royal Bank of Scotland Group Plc and UBS AG.
JPMorgan on Jan. 5 settled its portion of the case for about$100 million, according to court records and a person familiarwith the matter. Schofield said the bank remainsa defendant because its settlement has not yet been approved.
The case is In re: Foreign Exchange Benchmark RatesAntitrust Litigation, U.S. District Court, Southern District ofNew York, No. 13-07789. (Reporting by Jonathan Stempel in New York; Editing by LeslieAdler)
Barclays (BARC)
HSBC Holdings (HSBA)
