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Metal market manipulation

MANHATTAN — The Second Circuit upheld the dismissal of a class action lawsuit claiming Merrill Lynch, Bank of America and Morgan Stanley manipulated the futures and options markets for gold, silver, platinum and palladium. Those firms previously admitted to illegal “spoofing” activities, but the suing traders failed to plead an injury because they did not cite specific, manipulated transactions that financially harmed them.

Read the ruling here.

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