COMEX Investor Alert: Motley Rice reviewing potential claims connected to London Fix Calls
Motley Rice is investigating possible anti-competitive behavior that allegedly caused financial injury to investors who, from 2004 to now, held or traded gold and gold derivatives that were priced based on the London gold fix or who held or traded COMEX gold futures or options. The defendants in the case may include those who participate on the London fix calls, including Barclays Bank PLC, Bank of Nova Scotia, Deutsche Bank, AG, HSBC Holdings PLC and Société Générale.
Did you from Jan. 1, 2004 to now:
• Hold or trade gold and gold derivatives that were priced based on the London gold fix?
• Hold or trade COMEX gold futures or options?
• Think the banks who allegedly participated in the London fix calls should be held accountable?
• Want to discuss your rights and potential legal options?
Our investigation focuses on what happens when the five big banks allegedly get on the London gold price fix call and how trading based on the benchmark they set is impacted by the immediate post-call trading.
It has been alleged that participants on the London call can look at the number of net buyers or sellers in the immediate first round of trading following the call and determine whether the price of gold is rising or falling. These dealers, and those they share the information with, are then able to allegedly bet on the direction of the market before the fix is made public. Using this inside information may allow for participants to engage in self-serving trading which disadvantages the rest of the market. Such allegedly advanced trading potentially violates U.S. antitrust laws and investors may have a chance to recover.
Please contact attorney Michael Buchman by email or at 212.577.0050 if you have questions about any potential claims or wish to better understand your legal rights.