26 SEPTEMBER 2014AlCircle.com
Aluminium consumers appeal against judgement in LME Anti-trust case
Edited by : AL CIRCLE
1 min read
The consumer and commercial classes who had accused LME of allowing anti-competitive and monopolistic behavior in its warehousing operations are not happy with the judge’s dismissal of the case. According to the LME owner, they have again appealed against the judge’s verdict.
On September, the two sets of plaintiffs from the aluminium industry have filed their appeals at the U.S. Court of Appeals said the Hong Kong Exchange and Clearing Ltd (HKEx) in a filing on Thursday.
HKEx, having acquired LME in December 2012, commented that their management believes that these appeals are baseless maintains “the claims are without merit and will continue to contest these allegations vigorously.”
According to the U.S. District Judge, Katherine Forrest, since the LME was a British Government “organ”, it is immune from the lawsuit as per the Foreign Sovereign Immunities Act.
On September, the two sets of plaintiffs from the aluminium industry have filed their appeals at the U.S. Court of Appeals said the Hong Kong Exchange and Clearing Ltd (HKEx) in a filing on Thursday.
HKEx, having acquired LME in December 2012, commented that their management believes that these appeals are baseless maintains “the claims are without merit and will continue to contest these allegations vigorously.”
According to the U.S. District Judge, Katherine Forrest, since the LME was a British Government “organ”, it is immune from the lawsuit as per the Foreign Sovereign Immunities Act.
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