07 SEP

Credit Suisse Can’t Keep Prosecutions From Forex Trial

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By Bryan Koenig (September 7, 2022, 5:55 PM EDT) — When Credit Suisse goes to trial next month on class action claims of manipulating foreign exchange markets, it will do so battling “powerful evidence” of prosecutions of, and guilty pleas by, other banks and individual traders after a New York federal judge refused to exclude those details.

U.S. District Judge Lorna G. Schofield rejected key requests to exclude certain evidence from the Oct. 11 trial, including details “that certain other banks, and certain of those banks’ FX traders, were criminally prosecuted, pleaded guilty, or were convicted.”

While Judge Schofield agreed, in a decision first issued on Friday and tweaked slightly on…

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