{"id":6057,"date":"2016-10-24T21:17:43","date_gmt":"2016-10-25T02:17:43","guid":{"rendered":"https:\/\/www.institutionalinvestorsecuritiesblog.com\/?p=1158"},"modified":"2016-10-24T21:17:43","modified_gmt":"2016-10-25T02:17:43","slug":"deutsche-bank-settles-silver-rigging-allegations-38m","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/deutsche-bank-settles-silver-rigging-allegations-38m\/","title":{"rendered":"\u00a0Deutsche Bank Settles Silver Rigging Allegations for $38M"},"content":{"rendered":"<p>\t\t\t\tDeutsche Bank (DB) has agreed to pay $38M to settle a <a href=\"https:\/\/www.investorlawyers.com\/investor-claims\/brokerage-firm-misconduct\/\">securities lawsuit <\/a>alleging that it colluded with other banks to manipulate silver prices. According to <em>Reuters<\/em>, this agreement could compel other banks that have been accused of the same misconduct to settle.<\/p>\n<p>According to the complaint, investors are accusing the German lender, Bank of Nova Scotia (BNS), and HSBC Holdings (HSBC) of fixing silver prices. They purportedly did this during a secret meeting conducted daily known as the Silver Fix. The silver manipulation scam allegedly began in 2009 and the alleged colluders suppressed prices on about $30B of silver financial instruments and silver that were traded annually.\u00a0 As a result of the alleged silver manipulation scam, banks were purportedly able to make returns that could exceed 100 percent annualized.<\/p>\n<p>Investors claim that <a href=\"https:\/\/www.investorlawyers.com\/investor-claims\/broker-misconduct\/\">UBS AG (UBS) <\/a>exploited the silver rigging. However,\u00a0U.S. District Judge Valerie Caproni dismissed the Swiss lender from the case. She\u00a0said that even if UBS profited from the silver manipulation there was no evidence provided to show that the Swiss bank had rigged prices.<\/p>\n<p> <a href=\"https:\/\/www.investorlawyers.com\/blog\/deutsche-bank-settles-silver-rigging-allegations-38m\/#more-6057\" class=\"more-link\">Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Deutsche Bank (DB) has agreed to pay $38M to settle a securities lawsuit alleging that it colluded with other banks to manipulate silver prices. According to Reuters, this agreement could compel other banks that have been accused of the same misconduct to settle. According to the complaint, investors are accusing the German lender, Bank of [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3818,3752],"tags":[3693],"class_list":["post-6057","post","type-post","status-publish","format-standard","hentry","category-deutsche-bank","category-financial-firms","tag-silver-rigging"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>\u00a0Deutsche Bank Settles $38M Securities Lawsuit | Securities Fraud Attorney<\/title>\n<meta name=\"description\" content=\"Deutsche Bank (DB) has agreed to pay $38M to settle a securities lawsuit alleging that it colluded with other banks to manipulate silver prices\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/deutsche-bank-settles-silver-rigging-allegations-38m\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"\u00a0Deutsche Bank Settles $38M Securities Lawsuit | Securities Fraud Attorney\" \/>\n<meta name=\"twitter:description\" content=\"Deutsche Bank (DB) has agreed to pay $38M to settle a securities lawsuit alleging that it colluded with other banks to manipulate silver prices\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards &amp; 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