Kirby McInerney Partner, David E. Kovel, Quoted in Financial Times Article on Forex Class Action Lawsuit04/06/2014 | The Financial Times
On April 6, 2014, The Financial Times quoted partner David E. Kovel on the global foreign exchange rate (“forex”) class action lawsuit. The amended complaint, filed on March 31, 2014, alleges that twelve banks acted as co-conspirators in manipulation of global forex prices. The lawsuit was filed before the Swiss Competition Commission stated that it is investigating several banks for the alleged claims.
Mr. Kovel is quoted stating that “if any Swiss findings become public and can be obtained by the plaintiffs in the US lawsuit, this could strengthen [the] case.”
Further, as large investors consider whether to file separate cases from the class action, Mr. Kovel believes that “large investors should examine whether they might have suffered losses.”
“If you have broad exposure to currency movements and a lot of money at stake, then this is definitely worth looking into.”
The full article is accessible on the Financial Times website here.