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US: Defunct battery maker suspects price-fixing to blame

By  |  January 29, 2014

A now-bankrupt battery maker has reportedly hired an antitrust expert to look into suspicions of a possible price-fixing scheme that may have played a part in the company’s demise.

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    Reports say Exide Technologies aims to look into the possible scheme following allegations of aluminum price-fixing in the nation. The company, reports say, suspects a similar scheme with lead.

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    When Exide filed for bankruptcy last year, the company cited higher lead prices; batteries can consist of up to 46 percent lead.

    The company’s creditors have now asked a bankruptcy judge to hire an antitrust consultant to look into the matter.

    The request follows allegations that JP Morgan Chase, Glencore Xstrata, Goldman Sachs and others conspired to fix aluminum and other metals’ prices.

    Full Content: Bloomberg

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