Goldman Sachs and HSBC 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 US.
Standard Bank and a metals unit of BASF, 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 jewellry to cars, according to a complaint filed yesterday in Manhattan federal court.........................................Full Article: Source
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