JP Morgan Avoids Trial In Copper Antitrust Suit

Law360, New York (May 29, 2007, 12:00 AM EDT) -- Rather than face trial, J.P. Morgan Chase & Co. has decided to settle a long-running antitrust lawsuit stemming from allegations that it conspired with Tokyo-based trading company Sumitomo Corp. to “squeeze” the market and raise prices for Sumitomo’s copper holdings.

The trial had been scheduled to begin on Tuesday in the U.S. District Court for the Western District of Wisconsin, after J.P. Morgan's last-ditch effort to derail the proceedings failed.

Earlier this month, Judge Barbara B. Crabb denied J.P. Morgan’s motion for summary judgment, saying there...
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