LOEB INDUSTRIES, INCORPORATED, Los Angeles Scrap Iron & Metal Corporation, and Metal Prep Company, Incorporated, Plaintiffs-Appellants,
v.
SUMITOMO CORPORATION and Global Minerals and Metals Corporation, Defendants-Appellees.
Loeb Industries, Incorporated, Los Angeles Scrap Iron & Metal Corporation, and Metal Prep Company, Incorporated, Plaintiffs-Appellants,
v.
JPMorgan Chase & Co., Defendants-Appellees.
Ocean View Capital, Incorporated, formerly known as Triangle Wire & Cable, Incorporated, Plaintiff-Appellant,
v.
Sumitomo Corporation of America, Sumitomo Corporation, Global Minerals and Metals Corporation, et al., Defendants-Appellees.
Viacom, Incorporated, as successor by merger to CBS Corporation, formerly known as Westinghouse Electric Corporation, and Emerson Electric Company, Plaintiffs-Appellants,
v.
Global Minerals and Metals Corporation and Credit Lyonnais Rouse, Ltd., Defendants-Appellees.
United States Court of Appeals, Seventh Circuit.https://leagle.com/images/logo.png
Argued September 5, 2001.
Submitted September 13, 2001.
Argued May 16, 2002.
Decided September 20, 2002.
Attorney(s) appearing for the Case
Ben Barnow, Barnow & Goldberg, Chicago, IL, David H. Weinstein (submitted), Weinstein, Kitchenoff, Scarlato & Goldman, Philadelphia, PA, William R. Steinmetz, Reinhart, Boerner, Van Deuren, Norris & Rieselbach, Milwaukee, WI, for Loeb Industries, Inc., Los Angeles Scrap Iron & Metal Corp. and Metal Prep Co., Inc.
Sanford P. Dumain (submitted), Milberg, Weiss, Bershad, Hynes & Lerach, New York City, for Ocean View Capital, Inc.
Reginald R. Smith (submitted), Houston, TX, for Viacom, Inc. and Emerson Elec. Co.
David R. Cross (submitted), Quarles & Brady, Milwaukee, WI, for Sumitomo Corp.
H. Peter Haveles, Jr. (submitted), Bruce Birenboim (submitted), Cadwalader, Wickersham & Taft, New York City, for Global Minerals and Metals Corp.
James H. R. Windels (submitted), Sarah Stasford (submitted), Davis, Polk & Wardwell, New York City, for J.P. Morgan & Co. Inc. and Morgan Guaranty Trust Co. of New York.
Celia Goldwag Barenholtz (submitted), Kronish, Lieb, Weiner & Hellman, New York City, for Sumitomo Corp. of America and Sumitomo Corp.
Steven Wolowitz (submitted), Mayer, Brown, Rowe & Maw, New York City, for Credit Lyonnais Rouse, Ltd.
Albert A. Foer, American Antitrust Institute, Washington, DC, John D. Bray, Washington, DC, Joseph P. Bauer, Notre Dame Law School, Notre Dame, IN, Amicus Curiae American Antitrust Institute, Viacom, Inc., Emerson Elec. Co. and General Elec.
Before CUDAHY, ROVNER, and DIANE P. WOOD, Circuit Judges.
United States Court of Appeals, Seventh Circuit.
DIANE P. WOOD, Circuit Judge.
These cases, which we have consolidated for purposes of this opinion, all arise out of an alleged conspiracy in the 1990s to fix the price of copper futures at artificially high levels on the international exchange markets. This market manipulation necessarily and directly inflated the price of the products purchased by the plaintiffs, buyers of copper cathode, copper rod, and scrap copper, who have sued for violations of the Sherman...
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