Barclays, Others OK $50M Deal To End Gold Price-Fixing Suit

By Dave Simpson (November 13, 2021, 2:25 AM GMT) -- Barclays Bank PLC, Scotiabank, Societe Generale and the London Gold Market Fixing Ltd. agreed to pay $50 million to end claims that they illegally fixed prices on the gold market, the putative class of gold traders told a New York federal court Friday.

The deal, if approved, would be the third and final settlement in the putative class action and would bring the total take for the plaintiffs to $152 million, according to the gold traders' motion for preliminary approval.

The motion also seeks certification of a class of "many thousands" who traded gold or financial instruments with gold as their...

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