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Gold ETF Prompts Lawsuit

Stock quotes in this article: GLD , ABX , NEM , GG  

The staggering success of streetTRACKS Gold Shares(GLD Quote), the gold bullion exchange-traded fund with more than $9 billion in assets, has at least one man crying foul.

But this week Dan Ascani will get his day in court.

Ascani accuses the World Gold Council, the company that launched the ETF two years ago, of betrayal and stealing his idea. His lawsuit, which dates back to November 2003, alleges that WGC took his idea for an ETF and then developed a "suspiciously similar product." ...

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Dow Jones S&P 500 NASDAQ 10-Year Note
10,309.92 1,091.49 2,138.44 32.31
Oil *
77.12
DOWN
154.48
DOWN
19.14
DOWN
37.61
DOWN
0.48
10 Yr
3.23%
SPDR Gold
115.06
-1.48%
-1.72%
-1.73%
-1.46%
Data delayed 20 minutes

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