The aluminum warehousing industry has been the target of critical media coverage and regulatory scrutiny. But it’s not turning out to be fertile ground for antitrust litigation, as a judge in Manhattan made clear on Friday when she tossed aluminum price-fixing claims against the Goldman Sachs Group Inc., JPMorgan Chase & Co. and Glencore plc.
In an 85-page ruling, U.S. District Judge Katherine Forrest dismissed consolidated class action lawsuits alleging a conspiracy to stockpile aluminum in warehouses and limit aluminum supply. Forrest ruled that the plaintiffs—groups of direct and indirect purchasers—lack standing under antitrust laws because they couldn’t identify a relevant market or show how they were directly injured by the alleged price manipulation.
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