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US: Aluminumprice-fixing claims thrown out

By  |  March 4, 2015

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

 

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