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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Chris Powell

The Gold Anti-Trust Action Committee was organized in the fall of 1998 to expose, oppose, and litigate against collusion to control the price and supply of gold and related financial instruments. The committee arose from essays by Bill Murphy, a financial commentator on the Internet (, and by Chris Powell, a newspaper editor in Connecticut. Murphy's essays reported evidence of collusion among financial institutions to suppress the price of gold. Powell, whose newspaper had been involved in antitrust litigation, replied with an essay proposing that gold mining and investor interests should act on Murphy's essays by bringing antitrust lawsuits against financial institutions involved in the collusion against gold. The response to these essays was so favorable that the committee was formed and formally incorporated in Delaware in January 1999. Murphy became chairman and Powell secretary and treasurer.