AIS Capital Accuses Banks Of Gold Benchmark Manipulation

Law360, New York (March 11, 2014, 2:41 PM EDT) -- In class action filed in New York federal court on Monday, investment firm AIS Capital Management LP accused Deutsche Bank AG, Barclays Bank PLC and three other banks of manipulating the benchmark used to determine the price of gold, adding to the banks’ mounting legal woes over the issue.

Connecticut-based AIS Capital claims the five banks, which include The Bank of Nova Scotia, HSBC Holdings PLC, Societe Generale SA, Deutsche Bank and Barclays, have used their positions as members of The London Gold Market Fixing Ltd....
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