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US: Goldman, JPMorgan still face revised aluminum price-fix case

By  |  March 29, 2015

Goldman Sachs Group, JPMorgan Chase and Glencore were ordered to face manufacturers’ antitrust claims that they conspired to manipulate the price of aluminum to boost trading profits.

US District Judge Katherine Forrest in Manhattan rejected a request by the banks and their aluminum warehousing operations to dismiss the claims entirely. She threw out a monopolization claim against Goldman Sachs and some state-law claims against all the defendants.

The judge, who had earlier thrown out the whole case, allowed the manufacturers, which include Agfa Corp., Mag Instrument Inc. and Eastman Kodak Co., to amend their complaint to try to present valid claims. Thursday’s ruling allows them to pursue evidence and attempt to prove their case.

“Plaintiffs have not done the world’s greatest job in explicating how all of the parts fit together, but they have done enough,” Forrest said in a written opinion Thursday.

 

Full Content: Reuters

 

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