by Dorothy Kosich, MineWeb.com:
Despite the legal arguments presented by dozens of appellants and their attorneys, the U.S. Second Circuit Court of Appeals ruled that silver manipulation theorists had legally failed to show that JPMorgan had manipulated the silver market.
In a summation issued Thursday, Circuit Judges Robert A. Katsmann, Richard C. Wesley and Denny Chin upheld the decision of Federal Court Judge, Robert P. Patterson, Jr., who ruled in January 2013, that while the appellants’ complaint contained many “conclusory allegations”, it simply failed to provide the specific factual allegations needed to substantiate their claim.
The class-action lawsuit was originally filed by 44 plaintiffs, who said they lost money because JPMorgan Chase & Company reportedly conspired and agreed to manipulate the prices of Comex silver futures and options contracts.
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