Bloomberg reported that Deutsche Bank AG (NYSE:DB) has reached settlements in lawsuits regarding allegations that it manipulated gold and silver prices.
Charges were brought against Deutsche Bank and other banks in 2014 by silver and gold futures traders who believed they had rigged prices for the precious metals and their derivatives, the news outlet states.
As quoted in the market news:
Attorneys for futures contract traders in two private lawsuits said in letters filed Wednesday and Thursday in Manhattan federal court that the bank has executed term sheets and is negotiating final details for the accords.
The German financial firm also agreed to help the plaintiffs pursue similar claims against other banks as part of the settlements, according to the letters. Vincent Briganti and Robert Eisler, attorneys for traders in the silver-fixing lawsuit, said Deutsche Bank will turn over instant messages and other communications to help further their case. Financial terms of the settlements weren’t disclosed.
Click here to read the full Bloomberg report.
