Without commenting on the merit of the recent suit I'll just point out that an illegal scheme to rig aluminum prices might look the same. These are smart people. It would be ridiculous to expect to find incriminating emails with subjects like: Fwd: Fwd: Re: Our illegal scheme to rig prices and make mad bucks LOL or contracts with clauses that spell out the entire details of a scheme in a simple manner.
Intent does matter in terms of whether something is illegal price fixing. If you have some other scheme to make money that involves buying or selling a lot of aluminium at particular prices, and you also have some aluminium holdings that mean you profit from the price movements that you yourself caused, that's... shady, but generally not actually illegal.
And we generally do tend to find such emails, even in Goldman. It's a big company that does all its business in writing.
