Judge rules Goldman and JPMorgan out of metal prices case

Gavel

A federal judge dropped Goldman Sachs and JPMorgan Chase from a lawsuit accusing them of conspiring to drive up aluminum prices by keeping supplies artificially low.

The New York post reports that aluminum buyers including Eastman Kodak and Agfa Corp. weren’t able to show that their claims were more than 'mere speculative generalizations', Manhattan Federal Judge Katherine Forrest wrote in her dismal on Wednesday.

The dismissal was the second of three opinions to be issued in the three-year price-fixing case. The first dismissed Henry Bath & Sons, the warehouse formerly owned by JPMorgan, and commodities trader Glencore as defendants.

While Goldman was dropped from the suit, Forrest has yet to issue an opinion on two of its subsidiaries, Metro International Trade Services, and J. Aron Co., that are involved in the case.

To access the complete New York Post article hit the link below:

Goldman, JPMorgan dropped from aluminum price-fixing suit

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