JPMorgan Won’t Face Revived Suit Over Silver Manipulation

Gavel

JPMorgan Chase won a judge’s ruling rejecting a bid to revive claims that it manipulated silver futures and options prices in violation of U.S. antitrust law.

Bloomberg reports that U.S. District Judge Robert Patterson in Manhattan said Monday that a group of investors suing the bank can’t file a new complaint in the case, ruling that they failed to address legal shortcomings that convinced him to dismiss the case in December.

'None of the allegations added by plaintiffs in the proposed amended complaint cure the pleading deficiencies that led to the dismissal of plaintiffs’ first complaint for failure to state a claim', Patterson wrote in a 12-page ruling.

The investors claimed that JPMorgan conspired to suppress silver futures so that call options, or the right to buy, would decline, and put options for the right to sell would increase.

Hit the link below to access the complete Bloomberg article:

JPMorgan Chase Won’t Face Revived Suit Over Silver Manipulation

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