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US appeals court reopens antitrust lawsuits against JPMorgan

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US appeals court reopens antitrust lawsuits against JPMorgan

The 2nd U.S. Circuit Court of Appeals in New York reopened three private antitrust lawsuits against JPMorgan Chase & Co.

Daniel Shak, Mark Grumet and Thomas Wacker, plaintiffs, accused JPMorgan of rigging silver futures markets contracts on metals market COMEX. The judge in the U.S. District Court for the Southern District of New York ruled that the plaintiffs failed to prove that JPMorgan made "artificial, unrealistic" bids and made misrepresentations to the committee that sets settlement prices in the market between 2010 and early 2011.

The 2nd U.S. Circuit Court said that the lower court judge, during the previous ruling in June 2016, held the plaintiffs to an excessively high legal standard.