Here come the class-action lawsuits against JPM for rigging gold and silver futures
Here come the class-action lawsuits against JPM for rigging gold and silver futures from GATA
TDC Note – Do you believe anything will come from this class-action lawsuits or will it be similar to the clinton crimes “investigations”? Will anyone of prominence ever go to prison ever again or are we going to accept to two-tier sets of laws? You can’t call any of it justice, because there is no justice.
JPMorgan Faces Potential Class-Action Lawsuit After Guilty Plea by a Former Metals Trader
By Dawn Giel
CNBC, New York
Thursday, December 13, 2018
Traders from across the U.S. are banding together to accuse JPMorganChase of manipulating precious metals markets for years.
At least six lawsuits, all making similar allegations against the nation’s largest bank, have been filed in New York federal court in the past month, since federal prosecutors in Connecticut unveiled a plea agreement with a former JPMorganChase metals trader.
The cases could potentially include thousands of people who traded in the precious metals market. The White Plains, N.Y., law firm Lowey Dannenberg is asking the court to combine the cases and name it as the lead.
The law firm’s commodities group is led by Vincent Briganti, the attorney who filed the first lawsuit on behalf of Dominick Cognata, a New York resident who alleges he suffered losses due to JPMorgan’s trading conduct in the silver and gold futures and options markets.
A combined case, seeking class-action status, would include anyone who purchased or sold futures contracts or an option on NYMEX platinum or palladium or COMEX silver or gold between at least Jan. 1, 2009, and Dec. 31, 2015. The lawyers believe that “at least hundreds, if not thousands” of traders would be eligible to join the case. …
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