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US: Lawyers for dismissed aluminum price-fixing suit won’t give up easily

By  |  September 7, 2014

Lawyers heading a lawsuit against major banks and other major institutions accused of manipulating aluminum prices will not give up on the case despite its dismissal last week, say reports.

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    US District Judge Katherine Forrest dismissed the case earlier this month, ruling that the plaintiffs failed to show sufficient evidence that the banks intended to manipulate aluminum prices.

    But the lawyers said they plan to appeal by the September 19 deadline, according to reports.

    Three lawyers are representing eight small US aluminum consumers that accuse Goldman Sachs, JPMorgan Chase and Glencore of conspiring to drive up aluminum prices by hoarding supplies in warehouses.

    According to reports, Judge Forrest has set a high standard for allowing the case to proceed. Experts consider the lawsuit an especially complex case.

    Full content: Reuters

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