The banks, among the world's largest, were accused of manipulating the market for COMEX silver futures and options contracts from the first half of 2008 by amassing huge short positions in silver futures contracts that are designed to profit when prices fall.
The lawsuits were filed one day after the Commodity Futures Trading Commission proposed regulations to give it greater power to thwart traders who try to manipulate prices.
The CFTC began probing allegations of silver price manipulation in September 2008, but the paper said in two previous reviews of the silver market, the CFTC has dismissed claims of manipulation.
(Repoting by Nicholas Trevethan; Editing by Ed Lane) ((Nicholas.Trevethan@thomsonreuters.com))
Keywords: JPMORGAN SILVER/
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