Hong Kong Exchanges and Clearing Limited said Sunday it had entered into a settlement agreement and mutual release with consumer end-user plaintiffs and commercial end-user plaintiffs over US class action lawsuits relating to aluminum litigation and its subsidiaries the London Metal Exchange and LME Holdings Limited.

"Under the settlement agreement, the consumer end-user plaintiffs and commercial end-user plaintiffs agreed, subject to conditions, to dismiss their appeals against the LME and LMEH and refrain from naming the LME, LMEH, and HKEx in any complaint involving any metal traded on the LME that relates to the issues raised in the existing aluminum litigation," HKEx said in a statement.

The exchange added the plaintiffs have also agreed to release all HKEx group companies and directors from existing and future claims that may relate to matters alleged in the relevant complaints or the warehousing of metals on the LME that could be asserted by them under US law.

"In return, the LME, LMEH and HKEx agreed to release all the commercial end-user plaintiffs and the consumer end-user plaintiffs and their subsidiaries and directors from existing and future claims that may relate to matters alleged in the relevant complaints or the warehousing of metals on the LME that could be asserted by them under US law," HKEx said.

Over 2013 and 2014, HKEx and its subsidiaries -- the LME and LMEH -- were named as co-defendants in class action lawsuits filed in the US alleging anti-competitive and monopolistic behavior in metal warehousing in connection with aluminum prices.

Of the 26 class actions filed, 24 were consolidated into three complaints: the 'first level' purchasers of primary aluminum complaint; the consumer end-users of aluminum complaint; and the commercial end-users of aluminum complaint.

As a result of the settlement, no HKEx group company will be a defendant in the litigation going forward, and the LME has agreed the plaintiffs will be free to approach the LME to request publicly available data.

The LME will treat requests from them in the same way as it would any other public request for data that the LME possesses in the ordinary course of business.

Prior to the settlement, plaintiffs were prevented from approaching the LME to make requests for publicly available information as the LME remained a defendant as a result of the consumer end-user plaintiffs' and commercial end-user plaintiffs' appeal.

No monetary consideration was involved on either side in arriving at the settlement agreement, HKEx said.