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US: Judge clears way for aluminum price-fixing cases

By  |  March 10, 2014

A federal judge will allow three separate groups to pursue class action status in litigation against Goldman Sachs, JPMorgan Chase, the London Metal Exchange and warehousing businesses for allegations of aluminum price and supply manipulation.

Reports say US District Judge Katherine Forrest ruled earlier this month to allow direct purchasers, commercial end-user plaintiffs and consumer end-user plaintiffs to continue with their lawsuits and seek class action status for the case. The defendants have the right to object to their filings, however.

The judge also designated co-lead counsel for each of the three groups.

The defendants are accused of hoarding aluminum in warehouses to artificially hike prices around the globe. Before Judge Forrest’s ruling, another judge had consolidated 26 lawsuits across the US regarding similar allegations.

Full Content: Reuters

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