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Report: Judge dismisses StanChart Plc from US forex lawsuit, claiming no jurisdiction

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Street Talk Episode 65 - Deferral practices trap US bank portfolios in purgatory

Report: Judge dismisses StanChart Plc from US forex lawsuit, claiming no jurisdiction

U.S. District Judge Lorna Schofield dismissed from aclass-action lawsuitrelated to the rigging of global foreign exchange prices, as it lackedoffices in the U.S., Reuters reported March 31.

Schofield did, however, say that plaintiffs have the optionof looking to substitute the company with unit — which hasoperated in New York, as a defendant — within seven days.

Additionally, Schofield has reportedly rejected dismissalrequests by Société GénéraleSA and Bank ofTokyo-Mitsubishi UFJ Ltd.