Goldman Sachs Group, JPMorgan Chase and Glencore were ordered to face manufacturers’ antitrust claims that they conspired to manipulate the price of aluminum to boost trading profits.
US District Judge Katherine Forrest in Manhattan rejected a request by the banks and their aluminum warehousing operations to dismiss the claims entirely. She threw out a monopolization claim against Goldman Sachs and some state-law claims against all the defendants.
The judge, who had earlier thrown out the whole case, allowed the manufacturers, which include Agfa Corp., Mag Instrument Inc. and Eastman Kodak Co., to amend their complaint to try to present valid claims. Thursday’s ruling allows them to pursue evidence and attempt to prove their case.
“Plaintiffs have not done the world’s greatest job in explicating how all of the parts fit together, but they have done enough,” Forrest said in a written opinion Thursday.
Full Content: Reuters
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Pfizer Settles Remaining Effexor XR Antitrust Claims for $25.5 Million
Apr 29, 2024 by
CPI
South Korean Regulator Approves LG Uplus and Kakao Mobility EV Charging Venture
Apr 29, 2024 by
CPI
Federal Judge Dismisses Doctors’ Antitrust Suit Against Ohio Health System
Apr 29, 2024 by
CPI
Paramount CEO Bob Bakish Steps Down as Merger Inches Closer
Apr 29, 2024 by
CPI
EU Brands Apple’s iPadOS as Gatekeeper in Tech Crackdown
Apr 29, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI