Three top firms see zinc lawsuits dismissed

A U.S. judge on Thursday dismissed a private antitrust lawsuit in which zinc purchasers accused affiliates of Goldman Sachs, JPMorgan and Glencore of conspiring to drive up the metal's price.

Reuters reports that in an 87-page decision, U.S. District Judge Katherine Forrest in Manhattan said purchasers failed to show that the defendants artificially inflated zinc prices by violating the Sherman Act, a federal antitrust law.

"It remains possible that shenanigans drove up the price of physical zinc," Forrest wrote. "But, at long last, plaintiffs have not adequately alleged that such price movement was due to a plausible antitrust violation, as opposed to parallel, unilateral conduct beyond the reach of that statutory scheme."

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