JPMorgan Silver Rigging Case Back in Court
- JPMorgan Silver Rigging Case Back in Court
by Vince Lanci, http://www.zerohedge.com/
Appeals Court Overturns Dismissal in JP Morgan Silver Rigging Case
* US Appeals Court overturns Dismissal in Silver Rigging Case against JPMorgan.
* The Appeals court rejected Judge Engelmeyer’s claim that the plaintiffs did not prove JPMorgan made “uneconomic bids” in the silver forward’s markets.
* New discovery may win the case against JPMorgan
Via Soren K. and MarketSlant | The New York 2nd U.S. Circuit Court of Appeals ruled yesterday that District Court Judge Engelmayer was in error when he dismissed the Silver price rigging lawsuits against JP Morgan. The appellate court felt that Engelmayer’s dismissal reasons amounted to “impermissible fact finding” and placed too high of a bar in concluding that plaintiffs had not adequately plead their case.
This reversal of the June, 2016 dismissal means the case will go back to the district court for further litigation. This also means the plaintiffs will ask for and receive more discovery. This can win the case for them.
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