A PYMNTS Company

US: Judge clears way for aluminum price-fixing cases

By  |  March 10, 2014
US: Judge clears way for aluminum price-fixing cases

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.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    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

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.