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US: Silver price-fixing suits consolidated

 |  October 14, 2014

Several lawsuits filed earlier this year accusing some of the world’s largest banks of colluding to manipulate the price of silver have been consolidated in New York, say reports.

Deutsche Bank, Bank of Nova Scotia and HSBC are accused of violating antitrust law by abusing their position on the silver fix board, which sets the price of silver once a day. Several price-fixing lawsuits filed since July against the banks were consolidated in Manhattan federal court on Tuesday at the request of both sides.

According to reports, the US Judicial Panel on Multidistrict Litigation handed the newly consolidated case to US District Judge Valerie Caproni, who is already overseeing ongoing litigation accusing lenders of manipulating gold prices.

Full content: Daily Mail

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