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...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.