JPMorgan, Glencore Fixed Aluminum Storage Prices, Suit Says

Law360, New York (August 7, 2013, 2:28 PM EDT) -- JPMorgan Chase & Co., Goldman Sachs Group Inc. and Glencore Xstrata PLC were hit with a proposed class action in Florida federal court Tuesday alleging they used anti-competitive warehousing agreements to artificially inflate the costs of storing aluminum.

The suit was filed by Jacksonville, Fla.-based Master Screens Inc., a maker of screens for swimming pools and other products that rely on aluminum, and Daniel Price Bart, a Tallahassee resident described in the complaint as a “purchaser of beverages sold in aluminum cans.”

The suit is yet...
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