Goldman Sachs, JP Morgan and Citigroup have agreed to pay $39.25 million to settle a Canadian currency market manipulation class action.

The settlements, if approved by a court, will remove those banks from a $1-billion class action that alleges several large financial institutions conspired to rig foreign exchange markets using electronic chat rooms with names such as “The Cartel,” “The Bandits Club” and “The Mafia.”

“We alleged that traders from various financial institutions communicated to manipulate the spread by widening it when they effected currency transactions,” said Daniel Bach of Siskinds LLP, who represents the class as co-counsel with Koskie Minsky LLP and Sotos LLP. “They also took certain actions to collude to make other impermissible profits.”

Citigroup will pay $21 million, JP Morgan will pay $11.5 million and Goldman’s share is $6.75 million. Previously, UBS, BNP Paribas and Bank of America agreed to pay a total of $15.95 million. That brings total recoveries in the case so far to $54.2 million.

The most recent settlement must still be approved by the Ontario Superior Court of Justice. A hearing is scheduled for April.

Even if the settlement is approved, the case will continue against other banks. The list of 43 remaining defendants reads like a financial institution all-star team and includes Royal Bank of Canada, The Bank of Tokyo Mitsubishi, Barclays Bank, Credit Suisse, Deutsche Bank, HSBC, Morgan Stanley, Royal Bank of Scotland, Société Générale and Standard Chartered.

The plaintiffs allege that between 2003 and 2013, the defendant banks conspired to fix prices in the forex market by fixing spot prices, manipulating benchmark rates and exchanging confidential information. The allegations have yet to be proven in court.