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Deutsche Bank to pay C$5.5 million to settle Canadian gold and silver market-rigging cases
2:18p ET Monday, February 11, 2019
Dear Friend of GATA and Gold:
Deutsche Bank has agreed to pay nearly C$5.5 million to settle class-action lawsuits in Canada accusing the bank of manipulating the gold and silver markets, according to the Toronto law firm representing the plaintiffs.
In e-mails sent to class members and statements posted on its internet site, the law firm, Sotos LLC, said Deutsche Bank "does not admit any wrongdoing or liability."
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Deutsche Bank already has agreed to pay nearly US$100 million to settle similar class-action lawsuits in the United States:
The law firm said that if the settlement is approved by the Ontario Superior Court of Justice, the settlement funds, after payment of court-approved legal fees and disbursements, will be deposited into "an interest-bearing account for the benefit of the classes for distribution at a future date."
The law firm's summary of the gold and silver class-action settlement is posted at the Sotos internet site here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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