Settlement hopes boosted by US court decision

Plaintiff's lawyers encouraged by Judge Schofield's dismissal

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A US court's decision to throw out a motion by banks to dismiss the foreign exchange benchmark rates antitrust litigation in New York may bring more firms to the negotiating table to seek settlement alongside JP Morgan, which reached an agreement with the plaintiff's lawyers on January 5.

JP Morgan is understood to have settled with the plaintiff class for about $100 million, with a formal motion for preliminary approval to be filed on January 30 and a formal settlement likely to be passed in

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