JPMorgan to pay $60 million to settle precious metals spoofing lawsuit By Reuters

November 20, 2021 admin Stock News 0

© Reuters.

NEW YORK (Reuters) – JPMorgan Chase & Co (NYSE:) agreed to pay $60 million to settle class-action litigation by investors who accused the largest U.S. bank of intentionally manipulating prices of precious metals futures and options.

The settlement disclosed on Friday stemmed from sprawling U.S. government investigations into a form of illegal trading in precious metals and U.S. Treasury markets, known as spoofing.

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