The Conversation (0)
Reuters reported that Hong Kong Exchanges and Clearing Ltd. (HKEX:0388) plans to contest Duncan Galvanizing Corp.’s allegations that it and others have conspired to manipulate the US zinc price since 2010.
Reuters reported that Hong Kong Exchanges and Clearing Ltd. (HKEX:0388) plans to contest Duncan Galvanizing Corp.’s allegations that it and others have conspired to manipulate the US zinc price since 2010.
As quoted in the market news:
‘HKEx and LME management’s initial assessment is that lawsuit is without merit and HKEx and subsidiaries will contest it vigorously,’ the Hong Kong Exchange said in a release.
The zinc lawsuit opens up a new legal front and signals the possibility of mounting expenses for the Hong Kong bourse following its costly $2.2 billion purchase of the LME in 2012.