Goldman Sachs and HSBC are among four platinum and palladium dealers to be sued in New York for allegedly fixing the price of the metals.
The four companies are said to have rigged prices for eight years. BASF and Standard bank were also sued in the first lawsuit of its kind in the US.
The four defendants declined to comment.
Modern Settings, a Florida-based maker of jewellery and police badges, said purchasers lost millions of dollars.
The Florida company filed the complaint in Manhattan federal court.
Platinum and palladium are used in jewellery, cars and dentistry.
The companies were accused of having conspired since 2007 to rig the twice-daily platinum and palladium fixings.
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