A civil lawsuit brought against JP Morgan Chase for allegedly rigging the precious metal market has been put on hold by a federal judge for at least six months. CNBC reports that federal prosecutors in Manhattan requested the pause because they feared a separate criminal probe they were conducing could be harmed by a request by plaintiffs in the civil case to ask new questions of two ex-JP Morgan metals traders and the bank's global head of base and precious metals trading.
Details are still unknown of the criminal investigation. However, the criminal case became public last month when John Edmonds, a former JP Morgan metals trader, made a plea deal with prosecutors which has since been unsealed. Edmonds has pleaded guilty to conspiracy and commodities fraud.