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Second Circuit revives aluminum warehousing antitrust case

( August 27, 2019, 13:26 GMT | Official Statement) -- MLex Summary: The US Court of Appeals for the Second Circuit has determined that Eastman Kodak, Fujifilm Manufacturing, and other manufacturers have adequately pled antitrust injury in a case accusing Goldman Sachs, JPMorgan Chase, Glencore and others of deliberately driving up aluminum prices using their control of warehouses that store the commodity. The panel said the district court based its grant of summary judgment on an erroneous view of the applicability of the reasoning in a related appeal brought by commercial and consumer end users. The panel concluded that defendant’s purpose in using bottlenecks and delaying warehouse deliveries, resulting in extended warehousing and more costs, was to raise the prices of aluminum so that their stock would be resold at artificially higher prices because of their inflation of the Midwest Premium.See document below....

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