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…
Source news reuters.com, click here to read the full news.
