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Hagens Berman LLP Announces Investigation of Metal Warehouse Owners

^{Published on 2011-06-22 10:15:55 - Market Wire}
 

SEATTLE--([ BUSINESS WIRE ])--Hagens Berman today announced that it is investigating potential claims against the owners of large metals warehouses, including Goldman Sachs Group Inc. (NYSE:GS), J.P. Morgan Chase & Co. (NYSE:JPM) and Glencore International PLC (LSE:GLEN.L) after media sources reported that the companies are limiting the amount of metal released to customers and investors, potentially artificially inflating prices.

The delay in releasing the metal has reportedly contributed to a significant growth in the price of aluminum and other metals. According to media sources, at least one major aluminum consumer has complained to the London Metal Exchange (LME), which sets the minimum amount of metal that warehouse owners must release each day. The LME is reportedly investigating the matter.

Hagens Berman is investigating whether the limits on metal released violate antitrust laws, and whether the warehouse ownersa™ activities constituted manipulation of the price of aluminum in violation of the Commodities Exchange Act (CEA).

Companies or investors who believe they have suffered financial losses as a result of the alleged illegal activities can contact the Hagens Berman legal team via email at [ MetalWarehouses@hbsslaw.com ]. They can also contact the firm by calling (206) 623-7292. Additional information is available at [ www.hbsslaw.com/metalwarehouses ].

About Hagens Berman

Seattle-based Hagens Berman Sobol Shapiro LLP is one of the top class-action law firms in the nation, with offices in Boston, Chicago, Colorado Springs, Los Angeles, Minneapolis, New York, Phoenix, San Francisco and Washington, D.C. Founded in 1993, we represent plaintiffs in class actions and multi-state, large-scale litigation that seek to protect the rights of investors, consumers, workers and whistleblowers. More information about the firm is available at [ www.hbsslaw.com ].