A PYMNTS Company

Finland/US: Paper cartel case closed with $8M settlement

By  |  August 20, 2013

After nearly a decade, Finland-based paper firm Stora Enso Oyj has settled price-fixing allegations with an $8 million settlement. A former unit of the company was alleged to have conspired to fix prices for a type of paper used in magazinesand catalogues; charges were filed nine years ago. But a filing in a Connecticut district court Monday has now settled the case involving the accused Stora Enso North America Corp. The unit was sold in 2007 and has since gone through bankruptcy and a name change. The company was alleged to have manipulated the paper prices in products used for magazines like Time and Reader’s Digest between October 2002 and September 2003. The settlement now awaits preliminary approval.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    Subscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Full Content: Reuters

    We’d love to be your preferred source for news.

    Please add us to your preferred sources list so our news, data and interviews show up in your feed. Thanks!

    Add as Preferred Source

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.