Fideres provided comprehensive consulting expert analysis in In re JPMorgan Precious Metals Spoofing Litigation (Case No. 1:18-cv-10356) in the Southern District of New York, examining market manipulation patterns and spoofing detection methodologies in precious metals futures markets on COMEX and NYMEX from March 2008 through August 2016.
Fideres conducted detailed econometric analysis of precious metals futures trading data, examining order placement patterns, cancellation rates, and price impact measurements to identify spoofing behavior by JPMorgan traders. The consulting expert analysis employed sophisticated statistical techniques including high-frequency transaction analysis, order flow modeling, and manipulation detection algorithms to demonstrate how defendants placed orders with intent to cancel before execution, creating false impressions of supply and demand to manipulate gold, silver, platinum, and palladium futures prices.
The comprehensive market manipulation analysis provided crucial evidentiary support for the $60 million class action settlement covering investors who traded precious metals futures and options during the class period. Fideres’s expert work supported allegations that resulted in JPMorgan’s record-breaking $920 million government settlement, with the bank admitting wrongdoing in a deferred prosecution agreement covering tens of thousands of spoofing episodes across precious metals and Treasury markets by fifteen traders over eight years.