Deutsche Bank agrees to pay US$38m in US silver price-fixing case

New York

DEUTSCHE Bank AG has agreed to pay US$38 million to settle US litigation over allegations it illegally conspired with other banks to fix silver prices at the expense of investors, according to court papers filed on Monday.

The settlement, disclosed in papers filed in Manhattan federal court, came in one of many recent lawsuits in which investors have accused banks of conspiring to rig rates and prices in financial and commodities markets.