A PYMNTS Company

US: Steel firm wins millions in anti-collusion lawsuit

 |  March 27, 2014

MM Steel has been awarded $52 million by a Texas judge in the company’s lawsuit against several major steel mills for allegations of anticompetitive collusion, say reports.

The companies were accused of colluding to drive MM steel out of business by agreeing not to work with the firm. Reliance Steel & Aluminum, its subsidiary Chapel Steel, and American Alloy Steel were among the steel distributors found to have violated antitrust law. Steelmakers JSW Steel and Nucor were also found to be guilty of the alleged conspiracy.

Full Content: American Metal Market

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