JPMorgan Tells 2nd Circ. To Nix Silver Market MDL

Law360, New York (September 26, 2013, 4:51 PM EDT) -- JPMorgan Chase & Co. told the Second Circuit on Wednesday that dozens of consolidated lawsuits alleging the bank suppressed silver prices lack a factual basis to support the assertion that it violated antitrust laws or manipulated the U.S. silver market.

JPMorgan filed a brief in response to an appeal that seeks to revive multidistrict litigation alleging the bank manipulated the silver market and reaped billions of dollars while keeping the price of silver artificially low.

The bank said the lawsuits are “nearly devoid” of any factual...
To view the full article, register now.