Talan hits Goldman, LME with another suit

Goldman Sachs Group, some of its subsidiaries and the London Metal Exchange have been slapped with another antitrust lawsuit alleging that they conspired to restrain aluminium supplies, inflate aluminium prices and manipulate Midwest premiums.

Metal stamper and aluminium extruder Talan Products contends in a class-action suit that the New York-based bank and subsidiaries GS Power Holdings and warehousing company Metro International Trade Services, as well as the LME and up to 50 “unnamed co-conspirators,” engaged in the alleged scheme since least February 1, 2010, according to documents filed in US District Court in Michigan. “We believe this suit, like the other substantively identical ones, is without merit and we intend to vigorously contest it. We also note that aluminium...

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This article was first published by AMM

September 19, 2013

10:06 GMT

Chicago