Silver Price Manipulation

This case alleges that the defendants conspired to manipulate the global silver 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 silver market makers in Canada and across the world, including Scotia Bank, Barclays, Deutsche Bank, HSBC, and UBS.

The defendants allegedly used their special position and market power within the global silver markets to conspire to use various illegal methods to manipulate the price of silver.

The court will decide at a later date if the case will proceed as a class action.

Settlement

A national settlement, totaling $2,121,939.05 has been reached with Deutsche Bank AG, Deutsche Bank Securities Limited, and Deutsche Bank Securities, Inc. (collectively “Deutsche Bank”).  The Deutsche Bank settlement has been approved by the Ontario and Quebec courts.

The settlement funds (plus interest, less court-approved fees and expenses) are being held in trust for the benefit of settlement class members. At a later date, the courts will be asked to approve a method of distributing the settlement funds to settlement class members.

Contested Litigation

The contested litigation is continuing against the remaining defendants.

The Québec action has been stayed in favour of the Ontario action to proceed first.

The plaintiffs in the Ontario action will be seeking to certify the Ontario action on behalf of a national class. At the certification motion, the court will determine whether this action is properly prosecuted as a class action. The certification motion has not yet been scheduled.

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.

Important Documents:

• Amended Statement of Claim
• Deutsche Bank Agreement
• Short-Form Notice (English)
• Short-Form Notice (French)
• Long Form Notice (English)
• Long Form Notice (French)
• Opt Out Form (English)
• Opt Out Form (French)

For more information please contact CFM Lawyers at (604) 689-7555 or by email at [email protected].

Silver Price Manipulation - Status Updates:

Silver Price Manipulation Certification for Settlement - View