The defendants in a lawsuit citing the FX auction dependence on Currenex requested the production of 15 emails.
On September 16, 2025, Currenex, Inc., Goldman Sachs & Co. LLC, HC Technologies, LLC, State Street Bank and Trust Company, State Street Global Markets International Limited filed a proposal with the New York Southern District Court, demanding the production of a set of emails.
The defendants are ordered to force Edmar Financial Company, LLC and IRish Blue & Gold, Inc. produce a total of 15 emails sent between Matt Edwards, the founder of the plaintiffs and two employees of a consulting company called Velador Associates between August 13, 2018 and December 4.
Defendants argue that Velador emails may be derogatory. The claims of the plaintiffs are premature if they cannot prove that they did not know or have a reason to know about the claims of the complaint before August 4, 2019 (two years before the complaint).
Edwards corresponded to Velador Colin Lloyd in 2018 on “Currenex claims”. The themes of withholding messages make it clear that Lloyd traveled to Florida (where Edwards lives) in early 2019 to meet with him for the “Currenex claim”.
If, as can be seen from the emails of e -mail messages, Edwards discussed with “Currenex claims” with Velador as early as 2018, August 2021’s lawsuit is premature.
The complaint supports a long -term plan to evolve which amount with auction for currency transactions (“FX”). Currenex, which exploits a FX trading platform in conjunction with the parent company Street Bank, allegedly agreed to give a narrow subset of the participants unjustified advantages of bidding – the benefits that the plaintiffs and members of the class were not informed either.
The head among them was a secret rule for breaking “Tie” bids: in the case of a tie, Currenex was operating with secret deals with some privileged customers, arguing that their bids would always be declared the winner.
Currenex is also alleged to have provided these same privileges to its own parent company, State Street Bank, which functioned as one of the largest liquidity providers on the platform.
The complaint also claims that Currenex gave at least one HC tech management access to the entire platform, allowing HC Tech to see all orders placed on the platform-which was not reasonably expected and this was directly opposed to industry standards. This was achieved at a point by an executive API Currenex / State Street Bank and the HC Tech User / Password credentials.
The plaintiffs argue that this case concerns the illegality of the platform operators who apply practices that were (a) extremely material, (b) adverse with the interests of most users, (c) shocking departures from the rules of industry and (d) were never disclosed.