JPMorgan has silver lining

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Silver investors failed to show that JPMorgan conspired to drive down the metal's price, and an antitrust lawsuit accusing the bank of price-fixing should be dismissed, a federal appeals court ruled.

Reuters reports that the 2nd U.S. Circuit Court of Appeals said the investors, who traded COMEX silver futures and options contracts, failed to show that JPMorgan violated federal antitrust and commodities laws by having distorted silver prices at their expense between 2007 and 2010.

Among the allegations were that the bank would amass huge short positions that market conditions did not justify, and make 'fake' late-day trades when market volume was thin.

Thursday's order upheld a March 2013 ruling by U.S. District Judge Robert Patterson, who also sits in Manhattan.

To access the complete Reuters article hit the link below:

JPMorgan defeats appeal in U.S. silver price-fixing lawsuit

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