Berger Montague Settles Another Precious Metals Antitrust Lawsuit On Behalf Of Commodities Traders

PHILADELPHIA – Berger Montague, one of the nation’s leading antitrust law firms, negotiated a $20 million settlement with four defendants alleged to have manipulated the benchmarks used to price platinum and palladium. The settlement brings the total settlements achieved by Berger Montague as co-lead counsel in precious metals antitrust and commodities cases to $172 million. The $20 million settlement was preliminarily approved by U.S. District Judge Gregory H. Woods of the Southern District of New York on August 26, 2024. 

“I am glad we were able to obtain this recovery for our clients,” remarked Berger Montague’s Michael Dell’Angelo. “This was a very complex case which took almost a decade to resolve,” added Mr. Dell’Angelo. “We are proud of the work we did, including achieving favorable rulings in the Second Circuit Court of Appeals and the U.S. Supreme Court, and the final result achieved for our clients and the settlement class.”

The named defendants BASF Metals Limited f/k/a Engelhard Metals Limited (“BASF Metals”); Goldman Sachs International (“Goldman Sachs”); HSBC Bank USA, N.A. (“HSBC”); and ICBC Standard Bank Plc f/k/a Standard Bank Plc (“ICBC Standard”) allegedly engaged in a conspiracy to manipulate global benchmarks for platinum and palladium prices. More information about the case can be found here. 

Berger Montague is one of the nation’s preeminent law firms focusing on complex civil litigation, class actions, and mass torts in federal and state courts throughout the United States. The firm is active in the fields of antitrust, commercial litigation, consumer protection, defective products, environmental law, employment law, securities, and whistleblower cases, among many other practice areas. For more than 50 years, Berger Montague has played lead roles in precedent-setting cases and has recovered over $60 billion for its clients and the classes they have represented. Berger Montague is headquartered in Philadelphia and has offices in Chicago, Minneapolis, San Diego, San Francisco, Toronto, Washington, D.C., and Wilmington.

FOR IMMEDIATE RELEASE

August 29, 2024

Contact:

Amy Wall-Monte

215.875.3021

[email protected]

Meet The Team

[ View Bio ]

Michael Dell’Angelo

Executive Shareholder

• [email protected]
• 215-875-3080