Deutsche Bank settles U.S. gold, silver price-fixing litigation

Thu Apr 14, 2016 1:17pm EDT
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* Lawsuits say banks' conspiracy hurts investors, traders

* ScotiaBank, Barclays, HSBC, Societe Generale, UBS targeted

By Jonathan Stempel

April 14 (Reuters) - Deutsche Bank AG agreed to settle U.S. lawsuits accusing it of conspiring with other banks to manipulate gold and silver prices at investors' expense, court papers show.

The settlements were disclosed in letters filed in Manhattan federal court by lawyers representing investors and traders who accused Deutsche Bank of violating U.S. antitrust law.

Terms were not disclosed, but both settlements will include monetary payments by the German bank. Deutsche Bank also agreed to help the plaintiffs pursue claims against other defendants.

The gold settlement was disclosed on Thursday, and the silver settlement on Wednesday.

Both agreements require further documentation, and must be approved by U.S. District Judge Valerie Caproni.

Deutsche Bank spokeswoman Amanda Williams declined to comment.   Continued...