Metals Investors Rip Bid To Dismiss London Price-Fixing Suit
Law360, New York (November 17, 2015, 6:40 PM EST) -- Investors accusing Goldman Sachs, HSBC and others of scheming to suppress the prices of palladium and platinum in the London metals market urged a New York federal judge on Monday not to dismiss their proposed class action, arguing that they’ve uncovered “hugely suspicious” pricing data.
In opposition to the companies’ joint motion to dismiss filed in September, the investors said they have ample evidence undercutting claims by BASF Corp., the London Platinum and Palladium Fixing Co. Ltd. and the banks that twice-daily phone calls during which they allegedly fixed prices were simply “auctions.”
“Plaintiffs’ spot quote comparison analysis is not offered...
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