Goldman Sachs Group Inc. has reached a preliminary agreement to settle a lawsuit over currency-rate manipulation for $129.5 million, a person familiar with the matter said.
The settlement could come within a couple of weeks, said the person, who asked not to be identified because the agreement hasn’t yet been completed.
Investors sued Goldman Sachs and other banks in Manhattan federal court, alleging traders had rigged prices in the $5 trillion-a-day foreign exchange market.
JPMorgan Chase & Co. agreed to settle the lawsuit for almost $100 million and “provide significant cooperation” to the investors as they pursue their case against banks that haven’t settled, according to a Jan. 30 court filing.
Victor Hou, a lawyer representing Goldman Sachs, didn’t immediately respond to phone and e-mail messages after regular business hours seeking comment on the case.
The preliminary agreement was previously reported by the Wall Street Journal.
The case is In Re Foreign Exchange Benchmark Rates Antitrust Litigation, 13-cv-07789, U.S. District Court, Southern District of New York (Manhattan).