JP Morgan Chase the largest US bank, agreed to pay $99.5 million to settle its portion of an antitrust lawsuit in which investors accuse 12 major banks of rigging prices in the $5.3 trillion-a-day foreign exchange market.
The settlement followed the New York-based bank’s agreements last November to pay roughly $1 billion in civil penalties to resolve related claims by US and European regulators.
JP Morgan did not admit wrongdoing, and the settlement requires court approval.
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