* Lawsuits say banks' conspiracy hurts investors, traders
* ScotiaBank, Barclays , HSBC, Societe Generale , UBS targeted
By Jonathan Stempel
April 14 (Reuters) - Deutsche Bank AG DBKGn.DE agreed to
settle U.S. lawsuits accusing it of conspiring with other banks
to manipulate gold and silver prices at investors' expense,
court papers show.
The settlements were disclosed in letters filed in Manhattan
federal court by lawyers representing investors and traders who
accused Deutsche Bank of violating U.S. antitrust law.
Terms were not disclosed, but both settlements will include
monetary payments by the German bank. Deutsche Bank also agreed
to help the plaintiffs pursue claims against other defendants.
The gold settlement was disclosed on Thursday, and the
silver settlement on Wednesday.
Both agreements require further documentation, and must be
approved by U.S. District Judge Valerie Caproni.
Deutsche Bank spokeswoman Amanda Williams declined to
comment.
The plaintiffs accused Deutsche Bank of conspiring with Bank
of Nova Scotia BNS.TO , Barclays Plc BARC.L , HSBC Holdings
Plc HSBA.L and Societe Generale SOGN.PA to manipulate prices
of gold, gold futures and options, and gold derivatives through
twice-a-day meetings to set the so-called London Gold Fixing.
They also accused Deutsche Bank, HSBC and ScotiaBank of a
similar conspiracy to manipulate silver prices by rigging the
daily Silver Fix.
UBS AG UBSG.S was also accused in both lawsuits of
conspiring to exploit metals prices.
Representatives of ScotiaBank, Societe Generale and UBS
declined to comment on Thursday. The other banks were not
immediately available for comment but have declined to discuss
ongoing litigation.
The lawsuits are among several in Manhattan federal court in
which investors accuse banks of conspiring to rig rates or
prices in financial and commodities markets.
The cases are In re: Commodity Exchange Inc Gold Futures and
Options Trading Litigation, U.S. District Court, Southern
District of New York, No. 14-md-02548; and In re: London Silver
Fixing Ltd Antitrust Litigation in the same court, No.
14-md-02573.