Goldman Sachs faces two more lawsuits

Goldman Sachs Group, along with its warehousing firm Metro International Trade Services and electricity distributor subsidiary GS Power Holdings LLC, have been hit with two more lawsuits for allegedly restraining aluminum supplies and deliberately inflating aluminum prices, including the Midwest transaction premium price.

The plaintiffs, South Elgin, Illinois-based Custom Aluminum Products and Reserve, Louisiana-based River Parish Contractors, are seeking class-action status to represent other aluminum buyers, as well as compensatory damages. Neither company returned calls seeking comment. Custom Aluminum Products, an extruder and fabricator of aluminum products, alleges that "through an interconnected series of agreements in unreasonable restraint of...

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This article was first published by AMM

August 12, 2013

06:12 GMT

New York