Word: suits
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...suit is fallout from Summers’ time as a public official—and only one of many suits targeting...
...motions to be debated at the hearing is whether Summers can continue to be held liable as a private citizen. Current Treasury Secretary Paul O’Neill automatically replaces his predecessor when charges are leveled against Summers in his official capacity, but the Plaintiff in this suit maintains that he is suing Summers as an individual...
...suit, filed by Reginald H. Howe ’62 in Boston last December, accuses the defendants, who in addition to Summers include Federal Reserve Chair Alan Greenspan, officials of the Bank for International Settlements (BIS), and four major banks, “of manipulative activities in the gold market” and of violating the Sherman Anti-Trust and Security Exchange Acts...
...suit stems from a shareholder buyout by the BIS. But Howe said he’s using this primary complaint as a platform from which to allege price fixing of the gold market—the claim that he said implicates Summers. The suit says that as Secretary, Summers acted improperly to suppress gold prices...
...suit is being funded by the Gold Anti-Trust Action Committee, a group founded in 1999 by financial commentator Bill Murphy to advocate legal action against the key U.S. players in the gold market...