NEW YORK, July 29 (UPI) -- Three international banks were accused in a U.S. lawsuit of manipulating the daily benchmark price for silver.
A complaint filed in federal court by a Washington State resident, seeking class-action status, was filed against London's HSBC Holdings PLC, Deutsche Bank of Frankfurt, Germany, and the Bank of Nova Scotia, headquartered in Toronto. It alleges the banks established "positions in both physical silver and silver derivatives prior to the public release of silver fixing results, allowing them to reap large illegitimate profits."