FILE PHOTO: A sign of JP Morgan Chase Bank is seen in front of their headquarters tower in Manhattan, New York, U.S., November 13, 2017. REUTERS/Amr Alfiky
NEW YORK (Reuters) – JPMorgan Chase & Co (JPM.N) and Barclays Plc (BARC.L) will pay $20.7 million to resolve investors’ claims they conspired to rig the Mexican government bond market, the first of nine banks in the proposed class-action litigation to settle.
In a Monday night filing with the U.S. District Court in Manhattan, lawyers for the investors said the “ice breaker” settlements could be a catalyst for settlements with the other bank defendants.
These defendants include affiliates of Banco Santander, Bank of America, BBVA, Citigroup, Deutsche Bank, HSBC and UBS.
JPMorgan is paying $15 million, and Barclays is paying $5.7 million. Both denied wrongdoing in agreeing to settle. Neither bank immediately responded on Tuesday to request for comment.
Investors led by several pension funds accused the defendant banks of…
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