JPMorgan settles forex manipulation lawsuit in US
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New York
JPMORGAN Chase & Co has become the first bank to settle a US antitrust lawsuit in which investors accused 12 major banks of rigging prices in the US$5 trillion-a-day foreign exchange market.
The largest US bank will pay about US$100 million, a person familiar with the matter said. Lawyers for the bank and the investors said a settlement had been reached in a letter filed on Monday with the US District Court in Manhattan.
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