Royal Bank of Scotland revealed late last week that several of its banks are defending themselves against allegations that they manipulated the foreign exchange benchmark.
According to reports, an unspecified number of RBS bankers filed a motion in three separate lawsuits to dismiss the claims; three class actions were filed on behalf of banking customers from the US, Norway and South Korea accusing RBS and several other major financial institutions of manipulating forex rates for their own profit. All three cases are pending in US District Court.
RBS revealed the motions to dismiss the cases in its results announcement.
Full content: International Business Times
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