January 13, 2022 Update
On January 8, 2022, the Court issued an Order in which it approved the Claims Administrator’s claim determinations and proposed distribution calculations. No date for the distribution of approved claims has been established. A claimant filed an appeal challenging the partial denial of its claim. Pursuant to the Court’s Order determining the claims, no claims may be paid until the pending appeal is resolved. Please continue to check this website for updates.
What is this About?
This lawsuit alleges Citigroup, MUFG Bank, Standard Chartered, Société Générale, Bank of America, Barclays, BNP Paribas, Credit Suisse, Deutsche Bank, Goldman Sachs, HSBC, JPMorgan, Morgan Stanley, RBC, RBS, and UBS (the “Defendants”) conspired to fix foreign currency (“FX”) instrument prices causing people to be overcharged when purchasing an FX Instrument from an individual or entity and that individual or entity transacted in an FX Instrument directly with a Defendant or one of Defendants’ alleged co- conspirators. Defendants maintain that these claims lack merit. The settlements are not evidence of liability or wrongdoing. On November 19, 2020, the Court granted final approval of the Settlements.
You are if: (1) you purchased an FX Instrument from an individual or entity from December 1, 2007 through July 17, 2020, and that individual or entity in turn transacted in an FX Instrument directly with a Defendant or alleged co-conspirator; and (2) you lived in NY, AZ, CA, FL, IL, MA, MN, or NC at the time of the transaction.
What do the Settlements provide?
The $23,630,000 Settlement Fund, less court-approved fees and costs, will be distributed based on the greater of (1) a pro rata award based on transaction volume of FX Instrument purchases with a discount applied for purchases after December 31, 2013, or (2) a de minimis award. See the Plan of Allocation located in the Documents Sections for detailed payout information.
How can I get payment?
To ensure that a Settlement Class Member is able to participate in the distribution of funds, a Claim Form must be filed no later than March 19, 2021. An online fillable version of the Claim Form ("Online Claim Form") is available on this website. All documents to support your claim can be submitted on the website as well. If you would like to file your claim online to participate in the Settlement, you can proceed to the Online Claim Form by clicking "Submit Claim". You can also download a pdf copy of this claim form and mail it to the Claims Administrator by clicking "Proof of Claim Form". The address for the Claims Administrator can be found here under "Contact". Should you have any questions, please contact the Claims Administrator at 1-844-245-3777 or email at [email protected]
What are my Rights?
Exclude: The deadline to exclude yourself was October 15, 2020 and has now passed.
When will the Court decide?
A Fairness Hearing was held on November 19, 2020 at 11:30 a.m. at the Thurgood Marshall US Courthouse, 40 Foley Square, NY, NY 10007, in Courtroom 1106 to consider whether to approve the Settlements and fee application. The Settlements were approved.