>Metal Warehouses Investigation
Date Filed: June 22, 2011
Seattle - Hagens Berman is investigating potential claims against the owners of large metals warehouses, including Goldman Sachs Group Inc. (NYSE: GS), J.P. Morgan Chase & Co. (NYSE: JPM) and Glencore International PLC (LSE: GLEN.L) after media sources reported that the companies are limiting the amount of metal released to customers and investors, potentially artificially inflating prices.
The delay in releasing the metal has reportedly contributed to a significant growth in the price of aluminum and other metals. According to media sources, at least one major aluminum consumer has complained to the London Metal Exchange (LME), which sets the minimum amount of metal that warehouse owners must release each day. The LME is reportedly investigating the matter.
Hagens Berman is investigating whether the limits on metal released violate antitrust laws, and whether the warehouse owners’ activities constituted manipulation of the price of aluminum in violation of the Commodities Exchange Act (CEA).
Companies or investors who believe they have suffered financial losses as a result of the alleged illegal activities can contact the Hagens Berman legal team by clicking here to join the investigation.
Seattle - Hagens Berman is investigating potential claims against the owners of large metals warehouses, including Goldman Sachs Group Inc. (NYSE: GS), J.P. Morgan Chase & Co. (NYSE: JPM) and Glencore International PLC (LSE: GLEN.L) after media sources reported that the companies are limiting the amount of metal released to customers and investors, potentially artificially inflating prices.
The delay in releasing the metal has reportedly contributed to a significant growth in the price of aluminum and other metals. According to media sources, at least one major aluminum consumer has complained to the London Metal Exchange (LME), which sets the minimum amount of metal that warehouse owners must release each day. The LME is reportedly investigating the matter.
Hagens Berman is investigating whether the limits on metal released violate antitrust laws, and whether the warehouse owners’ activities constituted manipulation of the price of aluminum in violation of the Commodities Exchange Act (CEA).
Companies or investors who believe they have suffered financial losses as a result of the alleged illegal activities can contact the Hagens Berman legal team by clicking here to join the investigation.
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