Glencore Settles Zinc Market Rigging Claims for $9.9 Million (1)

Glencore Ltd. will pay $9.85 million to resolve antitrust claims over its alleged scheme to fix the price of zinc by rigging warehouse storage queues and manipulating the complex relationship between the physical and financial metals markets, according to a federal court filing in Manhattan.

The proposed settlement, which requires the approval of Judge Paul A. Engelmayer, would conclude class action litigation 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.

The zinc buyers leading the lawsuit sought Engelmayer’s tentative blessing July 23. ...