J.P. Morgan Chase & Co. (JPM-N) says that New Orleans-based coin and bullion dealer Blanchard & Co. has dismissed with prejudice claims that the financial services firm conspired with Barrick Gold (ABX-T) to manipulate the price of gold.
Morgan also said that plaintiffs in two related actions have dismissed their claims.
“After more than one year of investigation into the facts and circumstances surrounding the claims, there is no evidence that JPMorgan conspired with Barrick Gold to manipulate the price of gold,” said Morgan’s head of litigation Mark Segall in a prepared statement.
Blanchard originally launched its antitrust lawsuit against Morgan and Barrick in December 2002, alleging that the two violated U.S. antitrust laws by unlawfully combining to manipulate the gold price and to monopolize the gold market.
Earlier this year, Barrick and Blanchard failed to settle their legal battle, after a Louisiana district court ordered the two to reach an out-of-court deal as part of the normal judicial process.
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