U.S. Class Action Complaint Alleges Manipulation Of Platinum And Palladium Markets

A consolidated complaint has been filed by Labaton Sucharow and Berger & Montague in the Southern District of New York on April 21, 2015 alleging manipulation of the platinum and palladium markets. Similar to recent complaints in respect of the gold and silver markets, this complaint alleges that the panel members who take part in the daily benchmark fixing calls conspired to fix the benchmark price at a level beneficial to their trading books at the expense of other users of the benchmark as well as futures traders, as futures prices are closely linked to the daily benchmark prices.

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