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Barclays and other banks must be put on the hook for forex cartel, Allianz tells UK judge

By Simon Zekaria ( February 25, 2020, 17:27 GMT | Insight) -- Barclays, Citigroup and other banks that ran a foreign-exchange market cartel must be put on the hook to compensate investors for a decade of price-fixing and unlawful information exchange, a unit of German financial services group Allianz told a UK court today. Fund manager Allianz Global Investors is suing the banks in the UK over alleged losses resulting from the cartel. Today it faced off against them on the first day of a two-day High Court hearing to manage the lawsuit to trial, including on issues such as disclosure of documents.Barclays, Citigroup and other banks that ran a foreign-exchange market cartel must be put on the hook to compensate investors for a decade of price-fixing and unlawful information exchange, a unit of Allianz told a UK court today....

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