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Barclays, Citibank, UBS Australian antitrust class action still struggling to take off

By James Panichi ( February 26, 2024, 03:08 GMT | Insight) -- An Australian lawsuit targeting Barclays, Citibank, J.P. Morgan, UBS Investment Bank and NatWest linked to a global foreign-exchange cartel remains mired in procedural issues, with a judge today slamming lawyers over delays and their demands not to reveal the names of those behind the class action. In an often-testy exchange, Federal Court of Australia Judge Jonathan Beach criticized the tactics of the legal team behind the class action, suggesting that any move towards mediation between group members and the banks would require at least some disclosure.A lawsuit targeting Barclays, Citibank, J.P. Morgan, UBS Investment Bank and NatWest linked to a global foreign-exchange cartel remains mired in procedural issues, with an Australian judge today slamming lawyers over delays and their demands not to reveal the names of those behind the class action....

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