Deutsche, Barclays Accused Of Manipulating Gold Benchmark

Law360, Los Angeles (March 5, 2014, 7:00 PM EST) -- Deutsche Bank AG, Barclays Bank PLC and three other banks were hit with a putative antitrust class action in New York federal court Tuesday alleging they have conspired to manipulate the London gold fix, which is used as a benchmark to determine the prices of gold and gold derivatives.

Named plaintiff Kevin Maher, who has bought and sold gold futures and options, claims the defendant banks have abused their positions as members of the London Gold Market Fixing Ltd. to manipulate the London benchmark gold price...
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