FRT Insights


FX Case Update (September 2017): Deutsche Bank Reaches Settlement in the Forex Case > $190 million

By Andrew Laskey,  Legal Product Specialist, Financial Recovery Technologies 

On Friday, September 29, 2017, Deutsche Bank agreed to a $190 million settlement with investors who suffered as a result of the banks’ manipulation of foreign exchange rates over a 6 year period.

Deutsche Bank joins the additional 14 other banks who had previously settled with affected investors. This brings the settlement pool to $2.3 billion, and the total number of settled bank defendants to 15 out of 16. Credit Suisse AG remains the only bank not to settle in the case. Deutsche Bank has agreed to cooperate with plaintiff counsel in hopes of achieving a settlement with Credit Suisse.

While US investors who traded domestically have experienced drastic relief, investors who traded in other markets will have to pursue their actions outside of the United States.  Law firm Scott & Scott, acting co-lead counsel in the Forex case, have indicated that they plan on pursuing action outside of the U.S. in hopes of bringing relief to those who traded in foreign markets. By bringing suits overseas, there is hope for drastically increasing the size of the overall settlement pool.

>> To read the Law360 article, click here (may require a subscription).

FRT will continue to monitor this matter and alert you to progress of this action. In the meantime, you can visit our FX case spotlight for more details including case background, timing and frequently asked questions we’re fielding from our clients.

About FRT


Founded in 2008, Financial Recovery Technologies (FRT) is a leading technology-based services firm that helps the investment community identify eligibility, file claims and collect funds made available in securities and other class action settlements. Offering the most comprehensive range of claim filing and monitoring services available, we provide best-in-class eligibility analysis, disbursement auditing and client reporting, and deliver the highest level of accuracy, accountability and transparency available. For more information, go to

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This communication and the content found by following any link herein are being provided to you by Financial Recovery Technologies (FRT) for informational purposes only and does not constitute advice. All material presented herein is believed to be reliable but FRT makes no representation or warranty with respect to this communication or such content and expressly disclaims any implied warranty under law. Opinions expressed in this communication may change without prior notice. Firms should always seek legal and financial advice specific to their unique situation and objectives.

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