Steel buyers reached a $30 million settlement with Nucor Corp., Steel Dynamics Inc. and SSAB Swedish Steel Corp., ending an eight-year class action alleging steel manufacturers conspired to restrict output and raise prices (Standard Iron Works v. ArcelorMittal, In re Steel Antitrust Litig., N.D. Ill., No. 08-05214, motion filed 10/17/16).
The settlements involved the remaining defendants in a case that has netted $193.9 million in settlements. ArcelorMittal, the largest defendant, agreed to pay $90 million in 2014; U.S. Steel Corp., Gerdau SA, AK Steel Holding Corp. and Commercial Metals Co. (CMC) also settled charges.
Standard Iron Works filed ...
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