Did Your Business Transact in Exchange-Traded Gold Futures and Options and Commodities Underlying These Instruments?
YOU MAY BE ELIGIBLE TO RECOVER MONEY!
2nd Round Filing Deadline Pending
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Eligible Class Members
Eligible class members include all persons and/or entities (excluding the United States Government and other governments) who or which, f rom January 1, 2004 through June 30, 2013:
(A) sold any physical gold or financial or derivative instrument in which gold is the underlying reference asset, including, but not limited to, those who sold (i) gold bullion, gold bullion coins, gold bars, gold ingots or any form of physical gold, (ii) gold futures contracts in transactions conducted in whole or in part on Commodities Exchange, Inc. (“COMEX”) or any other exchange operated in the United States, (iii) shares in gold exchange-traded funds (known as “ETFs”), (iv) gold call options in transactions conducted over-the-counter or in whole or in part on COMEX or any other exchange operated in the United States; (v) gold spot, gold forwards or gold swaps over-the-counter; or (B) bought gold put options in transactions conducted over the-counter or in whole or in part on COMEX or on any other exchange operated in the United States.
The Defendants include:
1) The Bank of Nova Scotia (“BNS”)
2) Barclays Bank plc and Barclays Capital Inc. (collectively, “Barclays”)
3) Deutsche Bank AG (“Deutsche”)
4) HSBC Bank plc (“HSBC”)
5) Société Générale SA (“Soc Gen”)
6) The London Gold Market Fixing Limited (“LGMFL”)
A class action was filed in 2014 alleging the Defendants conspired to fix, raise, maintain, stabilize and/or otherwise manipulate the gold benchmark price in violation of federal antitrust laws. Since then, the class has reached settlements with the Defendants in the total amount of $152 million.
First Round Settlements:
The first round of settlements with Deutsche ($60 million) and HSBC ($42 million) total $102 million (these settlements received final Court approval). The claim filing deadline for this first round of settlements was August 23, 2021. Claims may still be filed subject to Court approval. Distributions of all funds secured in the first round of settlements will occur after the completion of the claims process.
Second Round Settlement:
The final settlement with BNS, Barclays, Soc Gen and LGMFL totals $50 million (this settlement is pending preliminary approval). Distributions of all funds secured in this settlement will occur after the completion of a claims process.
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This is not an official Court Notice. Information contained in this Summary is subject to change. Class Counsel or the Settlement Administrator may be contacted for additional settlement information. You also may visit the Court-approved website, once it is available. Please understand that you have the right to file on your own. The information on this website is for general information purposes only. Nothing on this site should be taken as legal advice for any individual case or situation.