The attorneys at Morgan & Morgan filed a class action against Goldman Sachs and related entities alleging that the Wall Street investment bank and its related defendants maintains monopoly power and has manipulated aluminum prices by storing vast quantities of the metal in its warehouses.
The Class Action’s Allegations
The class action lawsuit alleges that through its anti-competitive warehousing scheme, Goldman Sachs and the other defendants were able to artificially inflate the price of aluminum in violation of the federal antitrust laws.
Because the class action alleges that Goldman Sachs and its related defendants violated the Sherman Antitrust Act, a federal law designed to thwart anticompetitive business practices, companies that have been financially harmed by the artificially high price of aluminum may have legal options.
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