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US: Judges tasked with choosing path of aluminum price-fixing lawsuits

 |  December 5, 2013

A panel of seven judges in Las Vegas is now tasked with sorting out some difficult details of the law suits filed against major banks, including Goldman Sachs Group and JPMorgan Chase & Co., accused of fixing aluminum prices.

The issues at hand, reports say, include whether the lawsuits should be combined, and, if so, where that trial should be held. The accused banks are based in New York, while another named defendant is the London Metal Exchange; meanwhile, the aluminum warehouses in question are mostly in Detroit, and the lawsuits against the accused have been filed all around the nation.

The LME and the banks are accused of hording aluminum stockpiles in the warehouses to manipulate supplies.

Full Content: Businessweek

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