Goldman Sachs settles 2014 class action lawsuit tied to metal trades

(Reuters) – Goldman Sachs said on Friday it had reached an in-principle settlement to resolve a 2014 class action lawsuit related to trading in platinum and palladium.

The investment bank was among a number of defendants named in the lawsuit, which alleged they had violated antitrust laws by conspiring to manipulate a benchmark for physical platinum and palladium prices.

The agreement is subject to final documentation and court approval, Goldman disclosed, adding that it had set aside reserves for its contribution to the settlement amount.

(Reporting by Niket Nishant in Bengaluru; Editing by Shounak Dasgupta)