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(Reuters) - Two groups of plaintiffs that have accused the London Metal Exchange (LME) and its owner of allowing anti-competitive and monopolistic behaviour in its warehousing network have appealed against a judge's dismissal of the claims, the LME's owner said.
The two appeals, by consumer and commercial classes of plaintiffs involved in the aluminium industry, were filed with the U.S. Court of Appeals on Sept. 24, Hong Kong Exchanges and Clearing Ltd (HKEx) said in a filing on Thursday.
The LME, which was bought by HKEx in December 2012, says more than 80 percent of non-ferrous metals futures business is transacted on its platforms, totalling $14.6 trillion (8.9 trillion pounds) in 2013.
"HKEx management believes that the appeal is baseless and maintains that the claims are without merit and will continue to contest these allegations vigorously," it said.
More than two dozen small aluminium firms have alleged that, enabled by LME rules, banks and metals merchants colluded from May 2009 by hoarding metal in warehouses, driving up prices of industrial products from soft drink cans to airplanes.
But last month a judge dismissed the LME as a defendant in the anti-trust litigation, accusing banks and commodity companies of conspiring to drive up aluminium prices by restricting supply, hurting manufacturers and purchasers.
U.S. District Judge Katherine Forrest in Manhattan concluded that the LME was an "organ" of the British government and therefore immune from the lawsuit under the Foreign Sovereign Immunities Act.
(Reporting by Melanie Burton in Melbourne; Editing by Alan Raybould)