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BlackRock, Pimco Said to Plan New Front in Bank FX-Rigging Cases

  • Investors have hired law firm Quinn Emanuel to recover losses
  • New lawsuits against banks may be filed in London and New York

Some of the world’s biggest investors are working with a U.S. law firm to prepare a fresh wave of litigation against banks accused of rigging foreign exchange markets.

BlackRock Inc., Pacific Investment Management Co. and hedge fund BlueCrest Capital Management are working with law firm Quinn Emanuel to recover losses they blame on the manipulation of currency benchmarks, according to two people familiar with the case, who asked not to be identified because nothing has been filed.