This case alleges that the defendants conspired to manipulate the global gold markets for many years to their own benefit and to the disadvantage of class members.
The defendants are some of the largest financial institutions and gold market makers in Canada and across the world, including Scotia Bank, Barclays, Deutsche Bank, HSBC, UBS, and Société Générale.
The defendants allegedly used their special position and market power within the global gold markets to conspire to use various illegal methods to manipulate the price of gold.
The court will decide at a later date if the case will proceed as a class action.
On October 25, 2018, the Ontario Court approved a motion to certify the within action as against Deutsche Bank AG, Deutsche Bank Securities Limited, and Deutsche Bank Securities, Inc. (“Deutsche Bank”) for settlement purposes.
The Deutsche Bank settlement agreement (the “Deutsche Bank Agreement”) is subject to Court approvals in Ontario and Quebec. Hearings to approve the Deutsche Bank Agreement will be held as follows:
If you decide to exclude yourself (opt out), you must submit an Opt Out Form no later than April 12, 2019.
Copies of the Deutsche Bank Agreement, Short-Form and Long Form Notice (English and French) and opt-out form can be located under the “Important Documents” heading.
For more information please contact Jonathan Fung at (604) 689-7555 or by email at [email protected].
Gold Price Manipulation Certification for Settlement - View