JPMorgan to Pay $60 Million to Settle Precious Metals Spoofing Lawsuit

JPMorgan to Pay $60 Million to Settle Precious Metals Spoofing Lawsuit
A view of the exterior of the JPMorgan Chase & Co. corporate headquarters in New York City, on May 20, 2015. Mike Segar/Reuters
Reuters
Updated:

NEW YORK—JPMorgan Chase & Co. agreed to pay $60 million to settle class-action litigation by investors who accused the largest U.S. bank of intentionally manipulating prices of precious metals futures and options.

The settlement disclosed on Friday stemmed from sprawling U.S. government investigations into a form of illegal trading in precious metals and U.S. Treasury markets, known as spoofing.