AQR Capital Management, Winton Capital Management, DRW Commodities, Flow traders and Capstone Investment Advisors are bringing a lawsuit against The London Metal Exchange (LME) over its decision to cancel trades worth billions of dollars during a short squeeze in the price of nickel, according to a report by Bloomberg.

The LME says the filing of the commercial court claim in London, which was made public by court records released last week, is without merit and it will oppose the application.

The LME is already facing lawsuits from Jane Street and Paul Singer’s Elliott Investment Management over its handling of the March 'crisis', which saw Nikel futures spin by 250% in a little over 24 hours. The LME subsequently suspended the largest for a week and canceled about $3.9 billion of trades made at the highest prices.