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Scotiabank Will Settle Investors' Metals Spoofing Claims - Law360 - Deep South Daily Copper News

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Scotiabank Will Settle Investors’ Metals Spoofing Claims – Law360

August 6, 2022
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By Katryna Perera (August 5, 2022, 6:32 PM EDT) — Scotiabank told a New Jersey federal judge on Friday that it has reached an agreement to settle a proposed class action tied to allegations of precious metals futures spoofing that previously led to a $127 million deal between the bank and the U.S. government.

A letter sent to the court by Scotiabank’s counsel said the parties had signed a confidential, binding settlement term sheet. No other details of the settlement were disclosed.

The proposed deal will end claims by plaintiffs Casey Sterk and Kevin Maher that the bank had engaged in manipulative trading in the gold, silver, platinum and palladium futures…

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Read More: Scotiabank Will Settle Investors’ Metals Spoofing Claims – Law360

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