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Suing banks in London gold fix soon will become a pig pile
AIS Files Class-Action Suit Against Gold-Fix Banks
By Francesca Freeman
MarketWatch, New York
Tuesday, March 11, 2014
A U.S. investment-management firm has filed a lawsuit against the five banks that set the London benchmark gold price, alleging that the banks conspired to manipulate the price of gold for their own gain.
Documents seen by The Wall Street Journal show that AIS Capital Management, based in Connecticut, filed a class-action complaint late Monday against Barclays PLC, Deutsche Bank, HSBC Holdings PLC, Bank of Nova Scotia, and Societe Generale SA in the U.S. district court for the Southern District of New York.
The suit is on behalf of AIS and other investors who held or traded gold and gold derivatives that were settled based on the gold fix, or who held or traded COMEX gold futures or options, from 2004 to present. ...
... For the complete story:
http://www.marketwatch.com/story/ais-files-class-action-suit-against-gol...
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