DEUTSCHE SETTLEMENT
Deutsche Bank to pay $60m in antitrust claim
The German bank settles accusations it conspired to manipulate gold prices at the expense of traders and other investors
New York — Deutsche Bank has agreed to pay $60m to settle private US antitrust litigation by traders and other investors who accused the German bank of conspiring to manipulate gold prices at their expense. The preliminary settlement was filed on Friday with the US District Court in Manhattan, and requires a judge’s approval. Deutsche Bank denied wrongdoing. The bank in October agreed to pay $38m to settle similar litigation over alleged silver price manipulation. Lawyers for the plaintiffs did not immediately respond to requests for comment. The case is one of many in the Manhattan court in which investors accused banks of conspiring to rig rates and prices in financial and commodities markets. Investors sued Deutsche Bank, Barclays, Bank of Nova Scotia, HSBC Holdings and Société Générale in 2014, claiming that they conspired to fix gold prices from 2004 to 2013. While the investors did not estimate the size of the banks’ gold portfolios, they said the gold derivatives market alone...
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