Glencore’s $9.9 Million Zinc Antitrust Settlement Gets First Nod

Zinc traders leading antitrust litigation against Glencore Ltd. won preliminary approval Wednesday from a federal judge in Manhattan for a $9.85 million settlement of claims the company fixed prices by manipulating the complex relationship between the physical and financial metals markets.

Judge Paul A. Engelmayer signed off tentatively on the agreement, which would conclude the proposed class action against Glencore in the U.S. District Court for the Southern District of New York, where the case has been advancing in fits and starts since 2014.

Engelmayer directed the plaintiffs’ attorneys to “energetically pursue” potential class members “so as to maximize the ...