In Major Victory For Gold And Silver Traders, Manipulation Lawsuit Against Gold-Fixing Banks Ordered To Proceed

150519070127-deutsche-bank-leave-uk-780x439Back in April, precious metal traders felt vindicated [4]when Deutsche Bank agreed to settle a July 2014 lawsuit [5]alleging precious metal manipulation by a consortium of banks. As a reminder, In July 2014 [5]we reported that a group of silver bullion banks including Deutsche Bank, Bank of Nova Scotia and HSBC (later UBS was also added to the defendants) were accused of manipulating prices in the multi-billion dollar market. The lawsuit, which was originally filed in a New York district court by veteran litigator J. Scott Nicholson, a resident of Washington DC, alleged that the banks, which oversee the century-old silver fix manipulated the physical and COMEX futures market since January 2007. The lawsuit subsequently received class-action status. It was the first case to target the silver fix.

There’s a lot more to it, full article and credits here.