Kodak Sues Goldman Sachs, Others for Hoarding Aluminum and Creating 'Artificial Scarcity'

The Goldman Sachs Group and JPMorgan Chase & Co., in concert with hedge funds, commodities traders and others, manipulated commodities markets, breaching antitrust laws and costing Eastman Kodak Co. dearly, Kodak claims in a lawsuit.

Filed July 28 in U.S. District Court in Rochester, NY, the action maintains Goldman Sachs and nine alleged U.S. and foreign co-conspirators deliberately caused spikes in aluminum prices by hoarding stores of the metal in warehouses and shuffling ingots among them to create artificial shortages and hide their scheme.

Kodak asks for triple compensation for whatever damages it is able to prove it suffered.