LME sued for alleged aluminum storage monopoly

Goldman Sachs also sued.

The London Metal Exchange, which is owned by Hong Kong Exchanges and Clearing Ltd., and Goldman are being sued in a U.S. court over alleged anti-competitive and monopolistic behavior in aluminum storage.

HKEx said it would fight the class-action lawsuit it said was without merit. It bought LME last year. The metals exchange approves and licenses a network of more than 700 metal storage facilities in 36 countries.

The lawsuit was filed Aug. 1 by lead plaintiff, Superior Extrusion, in U.S. District Court for the Eastern District of Michigan.