JPMorgan Foreign Exchange Lawsuit May Be Winding Down

A lawsuit accusing JPMorgan Chase and Co. of improperly manipulating the foreign currency market may be on its last legs.

A federal judge asked the parties to say how they “intend to proceed” after a recent appeals court decision in favor of Credit Suisse Securities (USA) LLC, Deutsche Bank AG, MorganStanley Capital Services LLC, and other international banks. Like JPMorgan, these banks were accused of manipulating foreign currency transactions to retain higher profits in violation of federal benefits law. The U.S. Court of Appeals for the Second Circuit rejected these claims, finding insufficient allegations that the banks exercised the type ...