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(USGovernment-News.Com, April 12, 2014 ) New York, NY -- The Oliver Law Group P.C., a Michigan law firm representing plaintiffs in Federal Aluminum Antitrust Lawsuits nationwide, has been named to the Plaintiffs’ Steering Committee for Direct Purchaser Plaintiffs in the aluminum antitrust Litigation now underway in U.S. District Court, Southern District of New York. According to court documents, more than two dozen lawsuits have been filed in the proceeding, all of which accuse Goldman Sachs Group Inc., JPMorgan Chase & Co., and other defendants of constricting aluminum supplies and driving up prices.
(In Re Aluminum Warehousing Antitrust Litigation, MDL No. 2481)
The Oliver Law Group P.C. was named to the Plaintiffs’ Steering Committee by U.S. District Judge Katherine B. Forrest via an Order dated March 6, 2014. According to court documents, the aluminum antitrust litigation was established in the Southern District of New York on December 16, 2013. The complaints filed in the litigation accuse Goldman Sachs, JP Morgan Chase and other defendants of racketeering and conspiring with the London Metal Exchange (LME) to hoard aluminum in Detroit-area warehouses in violation of federal antitrust laws . According to Bloomberg News, Detroit is the second-biggest repository for aluminum stockpiles monitored by LME, the world’s largest industrial metals marketplace.
(bloomberg.com/news/2013-12-16/goldman-sachs-aluminum-antitrust-suits-shipped-to-nyc.html, Bloomberg News, December 16, 2013)
Among other things, the defendants named in the aluminum Antitrust lawsuit litigation are accused of creating delays as long as 16-months in filling orders, which caused the manufacturers of aluminum-containing products to pay artificially high prices for the material. Plaintiffs also claim that warehouse operators shifted inventory from one site to another to satisfy output requirements without actually relinquishing control of aluminum stockpiles.
According to The Oliver Law Group, multidistrict litigations, such as the proceeding established in the Southern District of New York for the aluminum antitrust lawsuits, are intended to facilitate the efficient prosecution of a large number of complex lawsuits that involve common questions of fact. All of the claims included in a multidistrict litigation are subject to coordinated pre-trial proceedings as a means of avoiding duplicative discovery and inconsistent court rulings, and to preserve the resources of the Court, parties and witnesses.
The Oliver Law Group continues to investigate aluminum antitrust lawsuits against Goldman Sachs, JP Morgan, and other entities that may have engaged in anticompetitive practices in order to drive up aluminum prices. To learn more about the federal aluminum antitrust litigation, please contact our office by calling 800-939-7878 today.
About The Oliver Law Group P.C.
Oliver Law Group P.C. is a different kind of law firm. One that focuses on the needs of the injured first. A compassionate law firm dedicated to fighting for the rights of victims and their families, and doing everything necessary to ensure those rights.
The experience of a large firm. The 1-on-1 dedication of a small firm. A reputation built on trust.
Experience. Dedication. Trust. Oliver Law Group P.C.
If you would like to learn more about filing a Antitrust lawsuit, or need to speak with an antitrust lawyer turn to the law firm with the Experience, Dedication, and Trust you deserve. Contact the Oliver Law Group P.C. for your free case review by calling toll free 800-939-7878 today.
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