FX Case Update (March 19, 2018): Understanding the potential downside of “Option 1”

Mike Lange, Securities Litigation Counsel, Financial Recovery Technologies The deadline for filing claims in the $2.3 billion FOREX settlement was just extended (from March 22 to May 16, 2018 – read our blog). Ultimately, the size and complexity of the required data, which is being sourced from multiple entities, has been greater than the court and claims administrator initially anticipated. Because Continue Reading

Euroyen Case Update (February 2018): Bank of Tokyo-Mitsubishi UFJ Ltd. and Mitsubishi UFJ Trust and Banking Corp Reaches Settlement in the Euroyen Case > $30 million

By Andrew Laskey, Legal Product Specialist, Financial Recovery Technologies  On Friday, February 9, 2018 two more banks, The Bank of Tokyo-Mitsubishi UFJ Ltd. and Mitsubishi UFJ Trust and Banking Corp., agreed to a $30 million settlement for investors who suffered as a result of the banks’ manipulation of the Yen-Libor and Euroyen Tibor benchmark rates and the prices of Euroyen-based Continue Reading

Case Spotlight: Tesco PLC

By Andrew Lasky, Legal Product Specialist, Financial Recovery Technologies CASE BACKGROUND On March 28, 2017, it was announced that Tesco entered into material agreements with UK regulatory authorities in connection with past accounting practices at Tesco Stores Ltd, and the August 29, 2014 dissemination of overstated profit expectations by Tesco PLC. Under the terms of a deferred prosecution agreement with the Continue Reading