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Barclays opens up forex desks to last-look lawsuit
With the bank providing information to investors from people within the firm with the most knowledge of its last-look practice, plaintiff lawyers could access information that otherwise may have taken years of discovery to obtain
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UK bank Barclays will turn over information from people in its foreign exchange divisions who have the most insight into the use of its last-look practices and the breadth of its impact.
This level of co-operation is expected to provide investors with the ammunition they need to pursue other market-makers who they believe benefited from rejecting deals if the price moved in favour of the customer.
The co-operation provision is part of a $50 million settlement agreement to a class-action claim
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