World Economy

Lawsuit Settled

Lawsuit SettledLawsuit Settled

JPMorgan Chase & Co has become the first bank to settle a US antitrust lawsuit in which investors accused 12 major banks of rigging prices in the $5 trillion-a-day foreign exchange market, Reuters reported. The largest US bank will pay about $100m. Lawyers for the bank and the investors said a settlement had been reached in a letter filed on Monday with the US District Court in Manhattan.