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Antitrust lawsuit against Glencore, Goldman, JPMorgan dismissed

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Antitrust lawsuit against Glencore, Goldman, JPMorgan dismissed

U.S. District Judge Katherine Forrest dismissed a lawsuit accusing Glencore Plc, Goldman Sachs Group Inc. and JPMorgan Chase & Co. of artificially inflating aluminum prices, Reuters reported Oct. 5.

The suit was filed in August 2013 and accused the commodity players of colluding from 2009 to 2012 to drive up prices by hoarding inventory. Forrest had earlier dismissed the case in September 2014, but then allowed the plaintiffs to amend their antitrust claims. In March 2015, the judge allowed the case to proceed in court.

In the current ruling, Forrest said that there was no allegation or evidence that the defendants engaged in any anticompetitive conduct outside of the aluminum warehouse services market.

"Profit by defendants or losses by plaintiffs subsequently experienced in physical aluminum is irrelevant to antitrust standing," she added.