Econintersect: A proposed class action settlement for spot market traders in platinum and palladium on the U.S. physical (“spot”) market for trades made during the period of time from 01 June 2006 to 29 April 2010. Physical class members must file proof of claims with the Settlement admisistrator on or before 21 January 2015.
The evidence of manipulation for a far longer period than is covered by this suit and settlement is discussed today as the lead article in GEI News‘ What We Read Today 20 September 2014.
Here is the press reselease from PRNewswire:
NEW YORK, Sept. 12, 2014 /PRNewswire/ —
www.platinumpalladiumphysicallitigation.com
Announcement Of Proposed Class Action Settlement
In Re: Platinum And Palladium Commodities Litigation
Master File No. 10-civ-3617, S.D.N.Y.You may be entitled to cash compensation if you purchased or acquired platinum or palladium bullion in the United States physical or “spot” market during the period of June 1, 2006 through April 29, 2010. You may submit a claim or obtain more information at www.platinumpalladiumphysicallitigation.com.
On July 15, 2014, the United States District Court for the Southern District of New York preliminarily approved settlement of the above-entitled action. A copy of the Settlement Agreement, the formal Settlement Notice, Plan of Allocation, Proof of Claim, Request for Exclusion form and other important documents are available on the settlement website at www.platinumpalladiumphysicallitigation.com.
If you purchased or acquired platinum or palladium bullion and are a physical class member, you may seek to participate in the Settlement by submitting a Proof of Claim that is received by the Settlement Administrator on or before January 21, 2015. You may obtain a Proof of Claim on the settlement website referenced above.
For additional information, you may contact the Settlement Administrator, A.B. Data, Ltd., at
(800)-918-9014, or at the following address:(800)-918-9014
Platinum & Palladium Litigation Settlement-Physical Action
c/o A.B. Data, Ltd.
PO Box 170500
Milwaukee, WI 53217-8091
[email protected]If you are a physical class member but do not file a Proof of Claim, you will still be bound by the releases set forth in the Settlement Agreement if the Court enters an order approving the Settlement Agreement. All objections must be made in accordance with the instructions set forth in the formal Settlement Notice and must be filed with the Court and served on the Parties’ counsel by October 15, 2014. All requests to be excluded from the Settlement must be made in accordance with the instructions set forth in the formal Settlement Notice and must be received by the Settlement Administrator no later than October 3, 2014.
Accordingly, please be aware your rights will be affected by this class action lawsuit settlement pending in the United States District Court for the Southern District Of New York. Please note valid claim forms must be received by the Settlement Administrator no later than January 21, 2015. Act now and submit your claim.
www.platinumpalladiumphysicallitigation.com
SOURCE A.B. Data, Ltd.
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Click on the following page image for the official Notice by United States District Court Southern District of New York:
Click on the page image below the Settlement Administrator’s Summary of Information:
Sources:
- Announcement of Proposed Class Action Settlement for Purchasers of Platinum or Palladium Bullion in the US Physical “Spot” Market (PRNewswire, 12 September 2014)
- In re: Platinum and Palladium Commodities Litigation (Platinum/Palladium Physical Action) (Summary of Information)
- Platinum Fixing Under the Microscope (Dimitri Speck, Seasonax, The Hedgefund Journal, 31 August 2014)
- NOTICE OF PRO POSED CLASS ACTION SETTLEMENT, NOVEMBER 7 , 201 4 HEARING AT 11:00 A.M. THEREON , AND CLASS MEMBERS’ RIGHTS (Notice by United States District Court Southern District of New York, 15 July 2014)
- What We Read Today (GEI News, 20 September 2014)
