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Sunday, Aug 4
Goldman, LME are co-defendants in class-action suit
- A class action lawsuit has been filed against Goldman Sachs (GS) and the London Metal Exchange alleging antitrust violations in connection with the firms' aluminum warehousing practices. (full complaint)
- Superior Extrusion, a maker of extruded aluminum products, is the lead plaintiff.
- Both Goldman and the LME say the suit has no merit.
- This is the latest setback for Goldman as it tries to defend itself against allegations its aluminum warehousing activities have played a role in creating long waits for the metal and driving up prices for consumers. (previous coverage)