Hedge Fund Sues Major Banks Over Market Manipulation

ValueWalk – Managed futures hedge funds typically cannot find success in markets that are manipulated.  AIS Capital Management, a Wilton, CT-based hedge fund known to utilize algorithmic trend following is doing something about it.

The hedge fund, which has a managed futures as well as a gold trading strategy among other offerings, filed a class action lawsuit through its Washington, DC law firm earlier this week.  According to a report in the Wall Street Journal, the class action lawsuit claims that from Jan. 1, 2004 to the present day, Barclays PLC, Deutsche Bank AG, HSBC Holdings plc , The Bank of Nova Scotia and Societe Generale SA “combined, conspired, and agreed with one another and unnamed co-conspirators to manipulate the prices of gold and gold derivatives contracts.”

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