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The
preliminary settlement was filed on Friday with the U.S.
District Court in Manhattan, and requires a judge's approval.
Deutsche Bank denied wrongdoing. The bank in October agreed to
pay $38 million to settle similar litigation over alleged silver
price manipulation.
Amanda Williams, a spokeswoman for the bank, declined to
comment. Lawyers for the plaintiffs did not immediately respond
to requests for comment.
The case is one of many in the Manhattan court in which
investors accused banks of conspiring to rig rates and prices in
financial and commodities markets.
Investors sued Deutsche Bank, Barclays Plc, Bank of Nova Scotia,
HSBC Holdings Plc and Societe Generale in 2014, claiming that
they conspired to fix gold prices from 2004 to 2013.
While the investors did not estimate the size of the banks' gold
portfolios, they said the gold derivatives market alone reached
$650 billion during the class period.
Deutsche Bank had agreed to settle its part of the case in
April, but the terms were not disclosed until now.
In an Oct. 3 decision, U.S. District Judge Valerie Caproni in
Manhattan said investors could pursue much of their lawsuit
against the other four banks.
Deutsche Bank has separately been in talks with U.S. authorities
on a potential multibillion-dollar penalty related to mortgage
securities.
The case is In re: Commodity Exchange Inc Gold Futures and
Options Trading Litigation, U.S. District Court, Southern
District of New York, No. 14-mc-02548.
(Reporting by Jonathan Stempel in New York; editing by Diane
Craft)
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