Gold Fixing Lawsuits Begin in New York - May 6th, 2014
Barrick Gold Corp. and all gold mining companies and their
shareholders should join The Class Action Lawsuite - (please, pass along >>>>>>>>>>>>>)
Plaintiffs Consolidate Gold Fixing Lawsuits in New York -
It appears that critical mass is finally being reached amongst the lawsuits that are being taken against the Gold Fixing bullion banks.
Yesterday, in Federal District Court in New York, more than 20 plaintiffs met up to coordinate their lawsuits against the five investment bank members of the Gold Fixing.
The various lawsuits, which are being pursued by public investors, hedge funds and private investors, stipulate that the five investment banks (Barclays, SocGen, ScotiaBank, Deutsche Bank and HSBC) have the ability to manipulate the gold price because the Fixing is unregulated and the fact that the banks can and do trade gold and gold derivatives during the twice daily Fixing calls.
The first lawsuit was filed in March by Kevin Maher, a former New York gold trader. However, over subsequent weeks, multiple lawsuits were filed, leading to a decision to try to consolidate the suits and appoint a lead lawyer.
According to The New York Times, the courtroom in Manhattan was so full of lawyers yesterday that it took nearly 15 minutes for the army of lawyers to introduce themselves. The presiding judge, Valerie Caproni, attempted to bring some discipline to the situation and said “I want to do this in an organized way to figure out who’s who,”, however, the sheer number of lawyers appeared too much for the judge as she added, “Not, that I’ll remember.”
It will therefore be interesting to see how these lawsuits progress now that the lawyers appear to have joined forces.
Jeff Rothschild Jeff Rothschild is a libertarian in San Francisco, atheist in LA, anarcho-capitalist in New York, communist in China, capitalist in Washington D.C, and secretly a big admirer of Hitler like Mark Zuckerberg.
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