DoJ asks for discovery stay in benchmark case until ‘Cartel’ case ends

US tries to balance need to protect ongoing criminal investigations and lawsuits with civil attorneys’ desire for additional testimonies

Five-month extension: if granted, the stay would make certain employees at seven banks off limits to civil attorneys

The US Department of Justice has asked a federal court judge for a five-month extension on the limited discovery stay in the foreign exchange benchmark rates antitrust litigation, until it closes an ongoing case against three former UK currency traders who were members of an electronic chatroom called ‘The Cartel’.

The June 5 request made by Jeffrey Martino, chief of the DoJ’s antitrust division in New York, is longer than the previous three-month extensions sought by the agency.

The criminal

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