The Ontario Court of Justice certifies a $1.0 billion foreign exchange price fixing class action in the banking sector (Mancinelli / Royal Bank of Canada)

Superior Court Certifies $1.0 Billion Foreign Exchange Price Fixing Class Action* In his decision released earlier this Spring, Ontario Superior Court Justice Paul Perell certified a class action in Mancinelli v. Royal Bank of Canada claiming $1.0 Billion in damages against several large banks, including Credit Suisse Group AG; Deutsche Bank AG; the Royal Bank of Canada; and the Toronto Dominion Bank, relating to an alleged conspiracy to fix prices in the foreign exchange market. The claim alleged that, between 2003 and 2013, the Defendant banks, who controlled approximately 65% of the FX market trading in Canadian currency, conspired

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  • Affleck Greene McMurtry (Toronto)

Quotation

Jacob Millar, The Ontario Court of Justice certifies a $1.0 billion foreign exchange price fixing class action in the banking sector (Mancinelli / Royal Bank of Canada), 14 April 2020, e-Competitions April 2020, Art. N° 95542

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