A U.S. judge has dismissed antitrust litigation accusing a variety of Wall Street banks and commodity merchants of conspiring to drive up aluminum prices by reducing supply.
In decisions on Tuesday night and Wednesday, U.S. District Judge Katherine Forrest in Manhattan rejected claims brought by aluminum purchasers against several defendants including Goldman Sachs Group Inc, JPMorgan Chase.
The decisions are a setback for aluminum purchasers who raised price-fixing claims, in the highest-profile litigation affecting the base metals market in two decades.
These plaintiffs had accused Wall Street banks and commodity merchants of having colluded since May 2009 to hoard aluminum in warehouses.
Full Content: CNBC News
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Plaintiffs Seek Communications In Antitrust Case Against Pioneer
May 9, 2024 by
CPI
UK Government Approves Vodafone-Hutchison Merger
May 9, 2024 by
CPI
Senate Majority Leader Announces Plan for AI Regulation Framework
May 9, 2024 by
CPI
BBVA Initiates Aggressive Takeover Bid for Sabadell
May 9, 2024 by
CPI
TikTok to Label AI-Generated Content Amid Election Interference Concerns
May 9, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Ecosystems
May 9, 2024 by
CPI
Mapping Antitrust onto Digital Ecosystems
May 9, 2024 by
CPI
Ecosystems and Competition Law: A Law and Political Economy Approach
May 9, 2024 by
CPI
Ecosystem Theories of Harm: What is Beyond the Buzzword?
May 9, 2024 by
CPI
Open Ecosystems: Benefits, Challenges, and Implications for Antitrust
May 9, 2024 by
CPI