28th Jul 2014 06:57
LONDON (Alliance News) - Deutsche Bank, HSBC Holdings PLC and Bank of Nova Scotia have been accused of attempting to rig the price of silver, the Guardian reported online on Sunday.
According to the Guardian, the accusation is contained in a lawsuit filed in New York. The plaintiff alleges that the banks unlawfully manipulated the price of the metal and its derivatives.
The report said the complainant is J Scott Nicholson of Washington DC. It said that Nicholson is seeking to bring a class-action lawsuit representing many investors who have bought silver futures contracts since 2007.
http://www.theguardian.com/business/2014/jul/27/silver-price-investor-sues-hsbc-deutsche-bank-nova-scotia
By Samuel Agini; [email protected]; @samuelagini
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