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US: $4 million settles metals antitrust class action

By  |  March 18, 2014

Commercial Metals Company announced late last week that it has settled a class action lawsuit filed against the metals company over allegations the firm manipulated prices by restricting production.

Reports say CMC offered $4 million to settle the suit, though continues to deny any wrongdoing. The class action was first filed in September 2008 on behalf of direct steel product buyers. CMC’s settlement does not include an admission of guilt from the company, say reports.

The offer must require approval by the court, but CMC said it expects to receive clearance.

Full Content: Steel Orbis

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