Seven major banks urge for Forex MDL dismissal

Morgan Stanley, Credit Suisse, Bank of Tokyo-Mitsubishi UFJ, RBC Capital Markets, Societe Generale, Standard Chartered and Deutsche Bank have said that those accusing them in a multi-district litigation of rigging the foreign exchange market have failed to provide sufficient evidence that they were involved in incriminating chat rooms in which they exchanged sensitive information, and are urging the New York federal court to dismiss the suits.

By Dani Kass (March 8, 2016, 2:57 PM EST) -- Seven major financial institutions, including Credit Suisse, Deutsche Bank and Morgan Stanley, on Monday said those accusing them in multidistrict litigation of rigging the foreign exchange market have failed to prove they were involved in incriminating chat rooms in which they exchanged sensitive information....

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