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Foreign Exchange Antitrust Litigation
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Foreign Exchange Antitrust Litigation

  #1 (permalink)
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Foreign Exchange Antitrust Litigation


Quoting 
Dorman Trading Customers,

This email is to alert you to proposed settlements worth allegedly $2,120,275,000 reached in a class-action lawsuit titled In re Foreign Exchange Benchmarks Antitrust Litig.,13-CV-07789 (LGS). The lawsuit alleges that sixteen banks ("Defendants") acted to manipulate and fix prices on the foreign exchange market. The lawsuit alleges that this manipulation affected the prices of futures contracts and options on futures contracts traded over the Chicago Mercantile Exchange and other futures exchanges.

Dorman is not a party in that lawsuit and has no knowledge about it other than information it has received from the parties. However, we want to make you aware that it is possible that you may be entitled to a recovery from the lawsuit. Dorman does not know if you are entitled to a recovery and we ask that you do not contact us regarding it. Instead, if you have any questions or think you should be included in this lawsuit, please contact the Claims Administrator, GCG, at 1-888-582-2289 (if dialing from outside the United States or Canada, call 1-330-333-7253).

We have been informed that the settlement classes are defined as:

Direct Settlement Class: All Persons who, between January 1, 2003 and December 15, 2015, entered into one or more FX Instruments directly with a Defendant where such Persons were either domiciled in the United States or its territories or, if domiciled outside the United States or its territories, transacted one or more FX Instruments in the United States or its territories.

Exchange Only Settlement Class: All Persons who, between January 1, 2003 and December 15, 2015, entered into one or more FX Exchange-Traded Instruments, where such Persons were either domiciled in the United States or its territories or, if domiciled outside the United States or its territories, entered into one or more FX Exchange-Traded Instruments on a U.S. exchange.

"FX Instruments" means FX spot transactions, forwards, swaps, futures, options, and any other FX instrument or FX transaction that the trading or settlement value of which is related in any way to FX rates.

"FX Exchange-Traded Instruments" means any and all FX Instruments that were listed for trading through an exchange, including, but not limited to, FX futures and options on FX futures.

If you believe you fall into one of these classes, and you wish to file a claim or have questions, please contact the Claims Administrator at the phone number above. Thank you.

Email received from Dorman Trading today.

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  #2 (permalink)
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@tturner86

So the way I'm reading this: if I traded any FX futures within the period above (I'm just interested in Futures as I've not traded FX), regardless of where I am based (because I would have traded on a US based Exchange, i.e. the CME), then I would belong to the Exchange-Only Settlemen Class and I'm entitled to make a claim?

Anyone else interpreting it this way?

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  #3 (permalink)
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action


good question! Anyone already filed or submitted copies of trades? Any idea on what each individual could get?

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