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Federal judge lets traders combine cases accusing JPMorgan of rigging monetary metals markets

Section: Daily Dispatches

By Dawn Giel
CNBC, New York
Thursday, February 7, 2019

A group of traders from across the U.S. who allege that JPMorganChase manipulated precious metals markets for years are one step closer to bringing a class-action suit against the nation's largest bank.

Earlier this month a federal judge said five lawsuits making similar allegations against the bank could be combined, potentially including thousands of people who traded in the precious metals market from January 2009 through December 2015.

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Litigation in a separate civil case has been put on hold until at least May at the behest of the Justice Department, which is investigating a "related criminal case" that involves alleged market manipulation by precious metals traders at JPMorgan.

JPMorgan declined to comment on this story.

Judge John Koeltl of the Southern District of New York appointed the White Plains, N.Y., law firm Lowey Dannenberg as interim lead counsel for the proposed class action. ...

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