DOJ Probing Goldman, JPMorgan Aluminum Storage Deals

Law360, New York (November 15, 2013, 4:15 PM EST) -- The U.S. Department of Justice's antitrust chief told lawmakers Friday that the agency is investigating allegations of anti-competitive warehousing agreements among banks like Goldman Sachs Group Inc. and JPMorgan Chase & Co. that have been used to artificially inflate the cost of storing aluminum.

Assistant Attorney General William Baer did not go into detail about the nature or scope of the DOJ's work on the issue, but told members of the House Judiciary Committee that the matter was on the department's radar.

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