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Loeb Industries Inc

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June 18, 1999
* Two scrap-metal dealers have sued Sumitomo Corp. and Merrill Lynch & Co. in the latest legal skirmish since a 1996 copper-trading scandal that led to government probes and billions of dollars in losses. Los Angeles Scrap Iron & Metal Corp. of Los Angeles and Loeb Industries Inc. in Watertown, Wis., said in a federal lawsuit that they and other copper buyers lost millions because Sumitomo, Merrill and Global Minerals & Metals Corp. hoarded metal in a conspiracy to drive up prices.
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