Deutsche Bank Settles Gold Price-Fixing Case with $60 Million

by Admin on December 7, 2016

The bank had previously agreed to pay $38 Million in October in a separate silver price-fixing case


Antitrust litigation between Deutsche Bank AG and several traders and investors has resulted in the former agreeing to pay $60 million. The bank was accused of manipulating gold prices at its expense reports Reuters.

Investors also sued other banks such as Barclays Plc, Bank of Nova Scotia, HSBC Holdings Plc and Societe Generale in 2014, claiming that they all rigged the gold prices from 2004 to 2013.

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Deutsche Bank also agreed to pay a settlement of $38 million for a similar case in October involving the price fixing of silver. The settlement was filed at the U.S District Court in Manhattan on Friday awaiting the approval of a Judge.

According to the report, the lawsuits against the other banks can still be pursued.

Read more here

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