Goldman Faces New Claims Of Aluminum Price Manipulation

Law360, Los Angeles (September 26, 2013, 7:28 PM EDT) -- Goldman Sachs Group Inc. was hit Thursday with another proposed class action alleging it has engaged in anti-competitive warehousing agreements designed to drive up the cost of storing aluminum. 

The suit, filed by Miami, Fla.-based bathroom fixture manufacturer Peterson Industries Inc., alleges Goldman has caused aluminum purchasers to overpay more than $5 billion since it acquired a complex of aluminum warehouses from Metro International Trade Services LLC in February 2010. Goldman has deliberately caused backlogs of aluminum to accumulate in its warehouses in order to earn...
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