Wiley Rein Llp

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$30M deal to end massive price-fixing class action vs steelmakers; all settlements now total $194M

By Jonathan Bilyk | Wednesday, Oct 19, 2016 @ 5:18pm

A group of about 5,500 manufacturers, metal fabricators and others who bought steel from eight American steelmakers about a decade ago have announced a $30 million deal with three of those mill operators – a settlement the parties intend would cap off a massive antitrust class action lawsuit accusing the steelmakers of manipulating supply to boost prices for their steel products.