Goldman, LME hit with another lawsuit

Sep 27, 2013 | 05:23 PM | Michael Cowden

Tags  aluminum, Goldman Sachs Group, Inc., London Metal Exchange, LME, antitrust lawsuit, Petersen Industries Inc., price manipulation Metro International Trade Services LLC.

CHICAGO — Goldman Sachs Group Inc., two of its subsidiaries and the London Metal Exchange have been slapped with another antitrust lawsuit alleging that they conspired to boost wait times for aluminum and to manipulate metal prices and premiums.

Miami-based door and glass enclosure manufacturer Peterson Industries Inc. contends that Goldman Sachs, following its acquisition of warehousing company Metro International Trade Services LLC in 2010, also took advantage of LME rules to boost daily rental fees and profits, according to a class-action complaint filed Sept. 20 in federal court in U.S. District Court for the Southern District of New York.....

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