JPMorgan, HSBC Silver Futures Cases Consolidated

Law360 (February 8, 2011, 6:47 PM EST) -- A judicial panel on Tuesday consolidated class action litigation alleging JPMorgan Chase & Co. and HSBC Holdings PLC violated antitrust laws by manipulating the silver market and potentially reaped billions of dollars while keeping the price of silver artificially low.

The U.S. Judicial Panel on Multidistrict Litigation on Tuesday consolidated the seven class action lawsuits pending against the two banks in the U.S. District Court for the Southern District of New York.

“A majority of the domestic defendants are located in that district, and thus many witnesses and discoverable documents are likely to be found there,” the panel ruled. “In addition,...

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