- Issue: False foreign exchange rates
Foreign Exchange (FOREX) Manipulation
Lieff Cabraser represents a proposed nationwide class of public pension funds, ERISA funds, and other public and private institutional investors in an action against The Bank of New York Mellon Corporation and its predecessors and subsidiaries. The complaint alleges that defendants charged class members fictitious foreign currency exchange ("FX") rates in connection with the purchase and sale of foreign securities.
We are also co-counsel for a proposed nationwide class of institutional clients of State Street, including public pension funds, who allege that defendants charged class members fictitious FX rates in connection with their purchase and sale of foreign securities.