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
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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