JPMorgan, UBS Among Banks Facing $1 Billion FX-Rigging Suit
- Barclays, Citigroup, RBS also sued in London class-action case
- Pension funds, investors set for compensation if claim wins
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JPMorgan Chase & Co. and UBS Group AG are among five banks being sued over allegations of foreign-exchange rigging in a class-action lawsuit seeking more than 1 billion pounds ($1.2 billion).
Barclays Plc, Citigroup Inc. and Royal Bank of Scotland Group Plc are the other three targets of the U.K. suit that will say pension funds, asset managers, hedge funds and corporations lost out because of market manipulation between 2007 and 2013 and should be compensated.