US judge dismisses aluminum antitrust claims wsau.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from wsau.com Daily Mail and Mail on Sunday newspapers.
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NEW YORK (Reuters) - A U.S. judge on Wednesday narrowed a long-running antitrust case where aluminum purchasers accused Goldman Sachs , JPMorgan Chase and the mining company Glencore of conspiring to drive up the metal’s price by reducing supply.
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U.S. District Judge Paul Engelmayer said many purchasers lacked standing to sue because they had bought aluminum primarily from smelters such as Alcoa and Rio Tinto Alcan rather than directly from the defendants, and thus did not qualify as “efficient enforcers” of antitrust laws.
In a 66-page decision, the Manhattan judge also said pricing decisions by the smelters appeared to be a big factor in the prices ultimately charged, and that those prices were “not the inevitable result of defendants’ alleged conspiracy.”
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indexmarketsresearchFebruary 12, 2021 5
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