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Bank Trio Paying $50 Million Over Claims They Rigged Gold ‘Fix’

Nov. 15, 2021, 6:59 PM

Barclays Plc, Société Générale SA, Scotiabank, and London Gold Market Fixing Ltd. will pay a combined $50 million to end antitrust litigation over an alleged scheme to rig the gold “fix,” a key pricing benchmark, according to a federal court filing in Manhattan.

The traders leading the lawsuit sought preliminary approval for the agreement from Judge Valerie E. Caproni, who’s overseeing the multidistrict case. She has tentatively signed off on a $62 million settlement with Deutsche Bank AG and a $42 million deal with HSBC Holdings Plc.

The suit, consolidated in 2014 in the U.S. District ...

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