Goldman, JPMorgan and Glencore Off the Hook in Zinc Price Lawsuit

Reuters reported that a US judge has dismissed an antitrust lawsuit in which zinc buyers had accused Goldman Sachs Group Inc. (NYSE:GS), JPMorgan Chase & Co. (NYSE:JPM) and Glencore plc (LSE:GLEN) of working together to drive the metal’s price up.
As quoted in the market news:

U.S. District Judge Katherine Forrest in Manhattan said the purchasers failed to show that rising zinc prices resulted from a “plausible antitrust violation” under the Sherman Act, a federal antitrust law.
The purchasers accused the defendants of having conspired since 2010 to curb supply and boost prices in connection with zinc stored in warehouses licensed by the London Metal Exchange.

Click here to read the full Reuters report.