News 24 Jul. 2020

U.S. District Court Denies Class Certification In Aluminum Warehousing Antitrust Litigation

On July 23, 2020, the U.S. District Court for the Southern District of New York issued a decision in the Aluminum Warehousing Antitrust Litigation, denying the plaintiffs’ motion for class certification. Curtis represents defendant Glencore Ltd. and certain affiliated entities.

The plaintiffs allege that Glencore Ltd., JPMorgan Chase & Co., and the Goldman Sachs Group, Inc., along with their respective warehousing affiliates, conspired to raise the price of primary aluminum during the period 2010-2016, in violation of Section 1 of the Sherman Antitrust Act. In a 119-page decision denying class certification, the court found that common issues do not predominate, and that the plaintiffs had failed to present a valid econometric model showing classwide injury.

The Curtis team consists of partners Eliot Lauer and Jacques Semmelman, and associates Nathaniel Ament-Stone, Hyuna Yong, and Vadim Belinskiy.