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Case Center
Silver Market Manipulation
- Issue: Antitrust violations
Introduction
Lieff Cabraser is investigating alleged illegal conduct by major financial institutions on behalf of persons and entities who bought Commodity Exchange, Inc. ("COMEX") silver futures or options between March 2008 and the present.
Background on Silver Market Manipulation Investigation
Lawsuits have been filed against JPMorgan Chase & Co. and HSBC entities for alleged violations of Sections 9(a) and 22(a) of the Commodity Exchange Act ("CEA"), Section 1 of the Sherman Act, and Section 4 of the Clayton Act.
In these lawsuits, the plaintiffs allege that defendants manipulated the prices of COMEX silver futures and options contracts by amassing large net short positions in silver options contracts (including the sale of call options) and conspired to maintain artificially low prices of silver.
On October 26, 2010, Commissioner Bart Chilton of the U.S. Commodity Futures Trading Commission ("CFTC" or the "Commission") stated, "I believe that there have been repeated attempts to influence prices in the silver markets. There have been fraudulent efforts to persuade and deviously control that price. Based on what I have been told by members of the public, and reviewed in publicly available documents, I believe violations to the Commodity Exchange Act have taken place in silver markets and that any such violation of the law in this regard should be prosecuted."
Contact Lieff Cabraser
If you transacted in COMEX silver futures or options since March 2008 and wish for Lieff Cabraser to review your claim, please click here or contact attorney Michael Miarmi toll free at (888) 321-1510.
About Lieff Cabraser
Lieff Cabraser Heimann & Bernstein, LLP, with offices in San Francisco, New York and Nashville, is a nationally recognized law firm committed to advancing the rights of investors, halting anticompetitive conduct and promoting corporate responsibility.
Since 2003, The National Law Journal has selected Lieff Cabraser as one of the top plaintiffs' law firms in the nation. In compiling the list, The National Law Journal examined recent verdicts and settlements in addition to overall track records. Lieff Cabraser is one of only two plaintiffs' law firms in the United States to receive this honor for the last nine consecutive years.
Contact
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Click here to contact antitrust attorney Michael Miarmi at Lieff Cabraser by email or call toll-free to 1.800.541.7358. There is no charge or obligation for our review of your case.
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