JP Morgan Silver Manipulation Case Dismissal OVERRULED
The court of appeals overruled the lower court’s decision to dismiss the JP Morgan Silver Manipulation case. Basically the court of appeals said that the lower court judge erred in his decision to dismiss the JP Morgan silver manipulation case. In this video smaulgld explains the judgement to overrule the case and its significance. Basically the court of appeals said (in my analysis if the decision to overrule the JP Mprgan Manipulation Case) that the Judge Engelmeyer in a sense jumped the gun. Instead of just judging whether there was enough information to go forward with the case the judge wanted require a level of discovery and proof that would show probable guilt.
The upper court ruled that those decisions can’t be made by the Judge Engelmeyer at the level of pleadings on whether there is enough information to allow the case to go to court. This is the decision that will be made when the case goes to court and is litigated. During that litigation there might be further discovery.
This is significant because further discovery by the plaintiffs may find additional evidence against JP Morgan. Since this is a civil case treble damages can be assessed. So JP Morgan can be fined three times the amount of damages they inflicted on the plaintiffs
Go to JP Morgan Silver Manipulation Case Dismissal Overruled To listen full post and analysis.
Or you can go to JP Morgan Silver Rigging Dismissal Overruled to read an analysis at Zerohedge.com of the case. But as zerohedge says: “But for now it is fair to say “Based on information and evidence, we believe the Silver spread market was rigged your honor.” And the Appeals court indeed, agreed that there was enough evidence to look further into this. Next comes the discovery and fact finding.”
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