RJLF Secures Remarkable Settlement for Barclays Bank in Global Gold Price-Fixing Suit

RJLF represented Barclays Bank in multidistrict consolidated class actions in the U.S. District Court for the Southern District of New York, alleging that several major global banks, which were members of The London Gold Fixing Company, conspired to suppress the price of gold from 2004-2012.

With nearly $8 billion in potential damages at stake, Barclays—along with Scotiabank and Société Générale—agreed to a settlement, which received final approval from the Court on August 5, 2022, amounting to less than 1% of potential damages among the three banks. 

Partner Michael Feldberg led RJLF’s team representing Barclays Bank. The case is In re Commodity Exchange, Inc. Gold Futures & Options Trading Litigation, No. 14-MD-2548 (S.D.N.Y., Caproni, J.).