The GraveYard Shift

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U.K.-based_class_action planned against worldwide gold and_Silver_Rigging

MMgys

We now have another class action lawsuit planned against the bullion banks but this time it is based in the UK
Justice is just Beginning…...stay tuned..

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U.K.-based class action planned against worldwide gold and silver rigging
Submitted by cpowell on Sun, 2017-02-05 02:13. Section: Daily Dispatches

9:16p ET Saturday, February 4, 2017

Dear Friend of GATA and Gold:

A British law firm, Leon Kaye Solicitors, with offices in London, Portugal, and Spain, is contemplating bringing a class-action lawsuit under the United Kingdom's Competition Act against financial institutions suspected or already accused of manipulating the gold and silver markets. The firm is seeking contact with investors who believe they may have been harmed by such manipulation.

To the best of GATA's knowledge, similar lawsuits have been brought so far only in the United States and Canada, and it would be a shame to give crooked gold and silver traders and bullion banks a pass in London, which remains the center of metals trading. It appears that people living outside the United Kingdom can become plaintiffs there.

With luck discovery and deposition in all these lawsuits eventually may expose and incriminate central banks in the market rigging, as they commonly intervene in the markets through intermediary financial houses.

Information about the possible class action in the U.K. is posted at the Leon Kaye Solicitors internet site here:

http://www.leonkaye.co.uk/class-actions/possible-manipulation-gold-silve...

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
[e-mail]
http://www.gata.org/node/17160
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Possible Manipulation of gold and silver prices 1999-2014 – Proposed Class Action

Home » Class Actions » Possible Manipulation of gold and silver prices 1999-2014 – Proposed Class Action

http://www.leonkaye.co.uk/class-actions/possible-manipulation-gold-silver-prices-1999-2014-proposed-class-action/

Based on documents in the public domain to which we refer below, we consider that there are good grounds to believe that members of six well-known financial services groups combined together to manipulate the outcome of the London Gold Fixing between about 2004 and 2014 and that members of four of those groups combined to manipulate the outcome of the London Silver Fixing between about 1999 and 2014. The effect of this was to create false market prices, in particular by artificially depressing prices after the 3pm (London time) Gold Price Fixing and to increase bid-offer spreads in physical gold, physical silver and their respective derivative instruments. The relevant institutions did this to increase their profits from their own activities in these markets at the expense of other market participants who have therefore suffered loss and damage, probably running into hundreds of millions of pounds in aggregate.

If it can be established that these financial institutions participated in price fixing then we consider that there can be little doubt that they have breached section 2 of the Competition Act 1998 and are liable to pay damages to any other market participant that suffered loss and damage as a result.

Market participants who have suffered loss and damage are entitled to claim damages in proceedings in the Competition Appeal Tribunal (“CAT”) in a class action pursued either on an ‘opt-out’ or an ‘opt-in’ basis.

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