A group of banks failed to persuade a judge to throw out a lawsuit claiming they conspired to rig foreign exchange rates.
Sixteen of the world’s biggest banks are accused of conspiring, from 2003 to 2013, to manipulate FX benchmark rates and exchange rates offered to customers. On Thursday, U.S. District Judge Lorna Schofield in Manhattan allowed most of the claims to go forward.
The plaintiffs are a group of 1,300 investment firms and local governments that opted not to participate in an earlier class-action suit that was filed in 2013. They claimed they lost money when they were forced…