HSBC, Scotiabank Defeat Suit Alleging Silver Price Manipulation

HSBC Holdings Plc and the Bank of Nova Scotia defeated a lawsuit alleging they conspired to manipulate the price of silver.

A federal judge in New York on Monday threw out a 2014 lawsuit by silver and gold futures traders alleging the companies and other large banks, including Deutsche Bank AG and UBS AG, rigged prices for precious metals and related derivatives. The judge concluded it wasn’t plausible that the conditions caused by any attempt to manipulate prices lasted long enough to effect their trades.

“Because there were undoubtedly other market forces that affected prices in the market on ...