Court Grants Approval to $23,630,000 Settlement in FX Indirect Purchaser Antitrust Litigation on Behalf of Firm Client FX Primus Ltd.

Nov 19, 2020 | News 2020

On behalf of our client FX Primus Ltd., Kehoe Law Firm is pleased to announce that today the court granted final approval to the $23,630,000 settlement in the FX indirect purchaser litigation. The lawsuit against various Wall Street banks, alleges that defendants conspired to fix the prices of foreign currency instruments causing settlement class members to be overcharged when directly purchasing from or directly selling to a retail foreign exchange dealer (“RFED”) an FX instrument, where that RFED transacted in an FX instrument directly with a defendant.​

Defendants include entities related to Citigroup, MUFG Bank Ltd., Bank of America Corporation, Barclays Bank PLC, BNP Paribas, Credit Suisse AG, Deutsche Bank AG, Goldman Sachs, HSBC Bank PLC, JPMorgan Chase & Co., Morgan Stanley, RBC Capital Markets, LLC, The Royal Bank of Scotland PLC (now known as NatWest Markets PLC), and UBS AG. The settlements include statewide settlement classes from New York, Arizona, California, Florida, Illinois, Massachusetts, Minnesota, and North Carolina.​

The defendants collectively paid $23,630,000 of settlements into a fund to be disbursed to the members of the settlement classes. You must file a valid and timely claim to get money from the settlements. You may get a Claim Form by visiting www.FXIndirectAntitrustSettlement.com or by contacting the Settlement Administrator toll-free number: 1-844-245-3777.

For more information about Kehoe Law Firm and its involvement in this matter, please contact John A. Kehoe at [email protected] or call (215) 792-6676.

JOYY Inc. Investors With Losses Greater Than $100,000

Nov 19, 2020 | Securities Class Action Archive

Kehoe Law Firm, P.C. is investigating potential securities claims on behalf of investors of JOYY Inc. (“JOYY” or the “Company”) (NASDAQ: YY) to determine whether the Company engaged in securities fraud or other unlawful business practices. 

On November 18, 2020, Muddy Waters Research published a report, “YY: You Can’t Make This Stuff Up. Well…Actually You Can,” which, among other things, stated that JOYY “is a multibillion-dollar fraud.” The Muddy Waters Research report stated that it “. . . conclude[d] that YY’s component businesses are a fraction of the size it reports, and that the company’s reported user metrics, revenues, and cash balances are predominantly fraudulent.”

On this news, the price of JOYY’s American Depositary Shares (“ADS”) fell $26.53 per ADS, or 26%, to close at $73.66 per ADS on November 18, 2020.

Investors who purchased, or otherwise acquired, the securities of JOYY Inc. and suffered losses greater than $100,000 are encouraged to complete Kehoe Law Firm’s Securities Class Action Questionnaire or contact Michael Yarnoff, Esq., (215) 792-6676, Ext. 804, [email protected], [email protected], to discuss the securities investigation or potential legal claims. 

Kehoe Law Firm, P.C.