PeacePlan
11-10-2010, 03:18 PM
Arbitration claim will target Morgan, HSBC for silver market rigging
Submitted by cpowell on 01:10PM ET Wednesday, November 10, 2010. Section: Daily Dispatches (http://www.gata.org/node/9283)
4p ET Wednesday, November 10, 2010
Dear Friend of GATA and Gold (and Silver):
GATA has received the notice below from New York lawyer John Lawrence Allen about an arbitration claim to be made against J.P. Morgan Chase and HSBC Bank over silver market manipulation. It may be another way for silver futures buyers to gain satisfaction, though GATA doesn't specifically endorse any particular legal action in this regard.
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
* * *
Announcement from the Law Office of John Lawrence Allen
Wednesday, November 10, 2010
[/URL][URL]http://www.investorbeware.org (http://www.investorbeware.org/)
The Law Office of John Lawrence Allen is preparing to file an arbitration claim before the National Futures Association (NFA) against J.P. Morgan Chase & Co. and HSBC for silver market manipulation, fraud, and conspiracy to violate Section 22(a)(1) of the U.S. Commodity Exchange Act.
We believe that a consolidated arbitration before the NFA is significantly superior to filing a traditional lawsuit in court for several reasons.
First, arbitration is substantially less costly and more efficient than a suit in court. Generally an arbitration claim can be resolved within 12 to 15 months from filing as opposed to the years involved in a court proceeding. There is no right to appeal an arbitration claim, whereas in court, even if the case is won, it can be tied up in the appeal process for years.
Second, arbitration is an equitable proceeding guided by equitable principles, whereas a court case is a legal proceeding guided by strict legal principles of proof.
Third, arbiters are generally business people who understand what is fair and equitable as opposed to lay jury members who can be easily swayed by conflicting expert testimony.
Finally, as there is no right to the formal appeal process, if the case is won, investors can expect to receive payment within a short time following the conclusion of the arbitration proceeding.
Investors wishing to obtain information about joining the arbitration claim can visit investorbeware.org or call the Law Office of John Lawrence Allen at 1-800 345-1888.
Submitted by cpowell on 01:10PM ET Wednesday, November 10, 2010. Section: Daily Dispatches (http://www.gata.org/node/9283)
4p ET Wednesday, November 10, 2010
Dear Friend of GATA and Gold (and Silver):
GATA has received the notice below from New York lawyer John Lawrence Allen about an arbitration claim to be made against J.P. Morgan Chase and HSBC Bank over silver market manipulation. It may be another way for silver futures buyers to gain satisfaction, though GATA doesn't specifically endorse any particular legal action in this regard.
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
* * *
Announcement from the Law Office of John Lawrence Allen
Wednesday, November 10, 2010
[/URL][URL]http://www.investorbeware.org (http://www.investorbeware.org/)
The Law Office of John Lawrence Allen is preparing to file an arbitration claim before the National Futures Association (NFA) against J.P. Morgan Chase & Co. and HSBC for silver market manipulation, fraud, and conspiracy to violate Section 22(a)(1) of the U.S. Commodity Exchange Act.
We believe that a consolidated arbitration before the NFA is significantly superior to filing a traditional lawsuit in court for several reasons.
First, arbitration is substantially less costly and more efficient than a suit in court. Generally an arbitration claim can be resolved within 12 to 15 months from filing as opposed to the years involved in a court proceeding. There is no right to appeal an arbitration claim, whereas in court, even if the case is won, it can be tied up in the appeal process for years.
Second, arbitration is an equitable proceeding guided by equitable principles, whereas a court case is a legal proceeding guided by strict legal principles of proof.
Third, arbiters are generally business people who understand what is fair and equitable as opposed to lay jury members who can be easily swayed by conflicting expert testimony.
Finally, as there is no right to the formal appeal process, if the case is won, investors can expect to receive payment within a short time following the conclusion of the arbitration proceeding.
Investors wishing to obtain information about joining the arbitration claim can visit investorbeware.org or call the Law Office of John Lawrence Allen at 1-800 345-1888.