The Supreme Court has upheld the Competition Appeal Tribunal’s decision that a £2.7bn claim against banks over alleged foreign exchange rigging cannot proceed on an opt-out basis.

Lord Sales, Lord Leggatt and Lady Rose, with whom Lord Burrows and Lord Richards agreed, said the Court of Appeal – which had overturned the tribunal’s decision – ‘should not interfere’ with the CAT’s decision ‘simply because it might have arrived at a different conclusion if it had been conducting the exercise’. change  change2 change3 chang4