{"id":3060,"date":"2015-01-07T00:00:00","date_gmt":"2015-01-07T05:00:00","guid":{"rendered":"http:\/\/silverlaw.lawblogger.net\/blog\/jpmorgan-chase-settles-investor-class-action-relating-to-forex-trading\/"},"modified":"2018-10-08T12:39:49","modified_gmt":"2018-10-08T16:39:49","slug":"jpmorgan-chase-settles-investor-class-action-relating-to-forex-trading","status":"publish","type":"post","link":"https:\/\/www.silverlaw.com\/blog\/jpmorgan-chase-settles-investor-class-action-relating-to-forex-trading\/","title":{"rendered":"JPMorgan Chase Settles Investor Class Action Relating to Forex Trading"},"content":{"rendered":"<\/p>\n

JPMorgan Chase & Co. is the first bank in a multi-defendant class action lawsuit to settle claims relating to allegations that the banks rigged the foreign exchange market.\u00a0 Commonly referred to as the Forex market, over 5 trillion dollars a day is traded as investors rely on the honesty of the marketplace to trade currencies.\u00a0\u00a0 According to various news reports, Chase has agreed to pay about $100 million under the agreement.\u00a0 A Federal Judge in New York must still approve the settlement.\u00a0 This settlement comes on the heels of a regulatory settlement where JPMorgan agreed to pay $1 billion as part of $4.3 billion in fines paid by six banks to resolve foreign-exchange rate investigations by regulators in the U.S., the U.K. and Switzerland.<\/p>\n

Wall Street\u2019s largest banks were some of the largest traders in foreign currency.\u00a0 However, despite the fa\u00e7ade of respectability large banks claim, traders allegedly frequently communicated in chat rooms using names such as \u201cThe Cartel,\u201d \u201cThe Bandits\u2019 Club\u201d and \u201cThe Mafia\u201d to share confidential client information and manipulate certain benchmark rates. \u00a0\u00a0Investors were harmed by trading at manipulated prices and frequently paying substantial fees, costs and commissions for investors Forex trading activity.<\/p>\n

Silver Law Group<\/a> represents investors in securities and investment fraud cases.\u00a0 Our lawyers are admitted to practice in New York and Florida and represent investors nationwide to help recover investment losses due to stockbroker misconduct<\/a>.\u00a0 Our attorneys have represented investors in Forex cases and in NFA arbitrations against registered commodities firms. If you have any questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.<\/p>\n

Continue reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

JPMorgan Chase & Co. is the first bank in a multi-defendant class action lawsuit to settle claims relating to allegations that the banks rigged the foreign exchange market.\u00a0 Commonly referred to as the Forex market, over 5 trillion dollars a day is traded as investors rely on the honesty of the marketplace to trade currencies.\u00a0\u00a0 […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[602,612,580],"tags":[],"class_list":["post-3060","post","type-post","status-publish","format-standard","hentry","category-class-action","category-forex-trading","category-stockbroker-misconduct"],"yoast_head":"\nJPMorgan Chase Settles Investor Class Action Relating to Forex Trading — Securities Arbitration Lawyers Blog — January 7, 2015<\/title>\n<meta name=\"description\" content=\"JPMorgan Chase & Co. is the first bank in a multi-defendant class 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