Barclays to pay US$50m to settle lawsuit over rigged forex system
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New York
BARCLAYS plc agreed to pay US$50 million to settle a US lawsuit claiming that it rigged its foreign exchange trading system to reject client orders that would be unprofitable for the British bank.
The preliminary, all-cash settlement with investors led by Axiom Investment Advisors LLC was disclosed in papers filed on Wednesday night in the US District Court in Manhattan, and requires a judge's approval.
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