Banks must face U.S. gold rigging lawsuit; UBS is dismissed
By GCRU Gold News on Thursday, October 6 2016, 23:15 - Permalink
A U.S. judge said gold investors may pursue much of their lawsuit accusing four major banks of conspiring for a decade to fix prices and exploit distortions at the expense of investors in global markets for the precious metal.
Antitrust and manipulation claims can move forward against Barclays Plc (BARC.L), Bank of Nova Scotia ("ScotiaBank") (BNS.TO), HSBC Holdings Plc (HSBA.L) and Societe Generale (SOGN.PA), U.S. District Judge Valerie Caproni in Manhattan said in a decision made public on Tuesday.
In a separate case involving the silver market, Caproni said another group of investors may pursue market rigging claims against ScotiaBank and HSBC.