Goldman hit with more antitrust lawsuits

Aug 13, 2013 | 01:14 PM | Michael Cowden

Tags  Goldman Sachs, Metro International Trade Service, London Metal Exchange, LME, Viva Railings, Regal Recyling, Team Ward, War Eagle Boats lawsuit

CHICAGO — Goldman Sachs Group Inc. has been hit with two more lawsuits for allegedly violating U.S. antitrust laws, manipulating aluminum prices and driving up premiums by hoarding metal in Detroit-area warehouses.

Both cases are class-action complaints demanding a jury trial.

One lawsuit was filed in U.S. District Court in New York by Viva Railings LLC and Regal Recycling Inc. against New York-based Goldman and its subsidiaries, Metro International Trade Services LLC and GS Power Holdings LLC, according to documents dated Aug. 8. Lewisville, Texas-based Viva makes modular railing systems, while Howell, Mich.-based Regal Recycling is a Michigan-based scrap metal dealers, according to the documents.

The other case was filed by Monticello, Ark.-based boat builder Team Ward Inc., which does business as War Eagle Boats, according to documents filed in U.S. District Court in Michigan and also dated Aug. 8. The War Eagle Boats case names the London Metal Exchange and LME Holding Ltd. as defendants in addition to Goldman Sachs, Metro and GS Power.....





Latest Pricing Trends

Poll

Are you stocking more inventory today than 18 months ago?

Yes
No


View previous results