Superior Court Certifies $1.0 Billion Foreign Exchange Price Fixing Class Action
In his decision released earlier this Spring, Ontario Superior Court Justice Paul Perell certified a class action in Mancinelli v. Royal Bank of Canada claiming $1.0 Billion in damages against several large banks, including Credit Suisse Group AG; Deutsche Bank AG; the Royal Bank of Canada; and the Toronto Dominion Bank, relating to an alleged conspiracy to fix prices in the foreign exchange market. The claim alleged that, between 2003 and 2013, the Defendant banks, who controlled approximately 65% of the FX market trading in Canadian currency, conspired to fix the price of FX instruments as well as other collusive ... [more] Full article
Canadian businessman extradited to US on fraud and bid rigging charges
Canadian businessman John Bennett appeared in a US court last week after his extradition to the US to face bid-rigging, fraud, conspiracy, and kick-back charges. The charges stem from a ... [more] Full article
Deterrence main objective behind three year corruption sentence
Deterrence and denunciation of bribery of foreign public officials were at the fore as a judge sentenced Ottawa businessman Nazir Karigar to three years in jail for agreeing to offer ... [more] Full article
US Obtains First Ever Extradition from Canada on Antitrust Charges
Canadian businessman John Bennett will be extradited to the US face bid-rigging, fraud, conspiracy, and kick-back charges, the BC Court of Appeal held recently. The charges stem from a bid ... [more] Full article
