It only takes a few moments to share an article, but the person on the other end who reads it might have his life changed forever.

Wednesday, November 26, 2014

Not just gold and silver… Big banks now being sued for manipulating platinum and palladium, too

http://thecrux.com/not-just-gold-and-silver-big-banks-now-being-sued-for-manipulating-platinum-and-palladium-too/

Goldman Sachs Group Inc. (GS) and HSBC Holdings Plc (HSBA) were sued in New York over claims they conspired for eight years to manipulate prices for the precious metals platinum and palladium in what plaintiffs’ lawyers say is the first class-action lawsuit of its kind in the U.S.
Standard Bank Group Ltd. and a metals unit of BASF SE (BAS), the world’s largest chemical company, were also sued. The four companies used inside information about client purchases and sale orders to profit from price movements for the metals used in products ranging from jewelry to cars, according to a complaint filed yesterday in Manhattan federal court.

No comments:

Post a Comment