HSBC Ducks Antitrust Suit Over Silver Price Suppression

Law360, New York (September 14, 2011, 6:15 PM EDT) -- HSBC Holdings PLC secured its exit Monday from a class action alleging that it and JPMorgan Chase & Co. violated antitrust laws by manipulating the silver market and potentially reaped billions of dollars while keeping the price of silver artificially low.

The company and two affiliates were dropped from an amended complaint in the consolidated litigation in New York federal court after a temporary agreement reached with the plaintiffs, silver investors and money managers.

“Plaintiffs have entered into a tolling agreement with HSBC Holdings PLC, HSBC...
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