LMEWEEK-LME CEO says no basis for LME to be included in warehouse lawsuits
LONDON Oct 9 (Reuters) - The London Metal Exchange's new CEO said he was ready to fight multiple U.S. lawsuits alleging anti-competitive behaviour in aluminium storage.
Lawsuits filed by consumers, distributors and others allege aluminium price fixing and anti-competitive behaviour by investment banks, large trading houses and the LME.
"What is absolutely clear with these lawsuits in America is there is no basis for including the LME in these suits. We are going to be defending that," Garry Jones told Reuters in an interview.
"There is no smoking gun. There was no complicity. We're going to have a hell of a defence for that. And its annoying because it will take management time. We are confident of being right," he added.
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