Second Circuit Reinstates Aluminium Antitrust Lawsuit

Law360 (subscription required) and nasdaq.com are reporting that the Second Circuit Court of Appeals has ruled in favor of Eastman Kodak, Fujifilm and other plaintiffs by reversing a lower court’s dismissal of antitrust claims they brought against Goldman Sachs, JP Morgan Chase, and other entities. The plaintiffs are manufacturers who allege that the price they paid for aluminium was inflated through manipulation of warehousing services and futures contracts. The action had been dismissed in 2016, when S.D.N.Y. Judge Katherine Forrest ruled that the plaintiffs lacked anti-trust standing. The Second Circuit’s opinion was written by Judge Pierre Leval.