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JPMorgan to pay $60 million to settle precious metals spoofing lawsuit -Breaking

by Mike Robinson

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© Reuters.

NEW YORK (Reuters) – JPMorgan Chase & Co (NYSE:) agreed to pay $60 million to settle class-action litigation by investors who accused the largest U.S. bank of intentionally manipulating prices of precious metals futures and options.

According to U.S. Government investigations, the settlement announced Friday stemmed in large-scale U.S. government investigations into spoofing. This is illegal trading of precious metals and U.S. Treasury market markets.

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