J.P. Morgan, HSBC sued for silver manipulation

NEW YORK (MarketWatch) -- Two separate lawsuits filed in federal court in Manhattan Wednesday allege that banks J.P. Morgan Chase & Co. JPM and HSBC Holdings Inc. HBC manipulate the price of silver futures by "amassing enormous short positions."

The suits allege that by managing giant positions in silver futures and options, the banks have unfairly influenced the prices of silver on the New York Stock Exchanges' Comex Exchange since early 2008.

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