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Case Center
Steel Products
- Issue: Price-fixing
Standard Iron Works v. Arcelormittal, et al.
Plaintiffs, direct purchasers of steel products, allege in a class action lawsuit that the largest producers of steel in the U.S. conspired to reduce production in violation of U.S. antitrust laws. Lieff Cabraser serves as co-counsel for plaintiffs.
Plaintiffs' Factual Allegations
Plaintiffs allege that the leading manufacturers of steel products entered into a scheme to artificially restrict the supply of steel products in the United States, the purpose and effect of which was to raise, fix, and stabilize the prices at which steel products were sold. Plaintiffs specifically allege that on at least three occasions during the class period -- mid-2005, late-2006, and mid-2007 -- the defendants, in coordination with each other, reduced production for the express purpose of raising the price of steel products.
Plaintiffs charge that defendants met with each other to discuss the need to impose industry production “discipline” and to “adjust their production rates so the price of steel doesn’t drop.” These and other calls to arms and pledges by and between defendants were followed with action: massive, coordinated and unprecedented market downtime, i.e., idling and/or reducing production of steel products.
Steel products are "products derived from raw steel and sold by Defendants, including, but not limited to, steel sheet and coil products; galvanized sheet and other galvanized and/or coated steel products; tin mill products; steel slabs and plates; steel beams, blooms, rails, and other structural shapes; steel billets, bars, and rods; steel pipe and other tubular products; and all other products derived from raw steel and sold by Defendants."
By acting in concert pursuant to their conspiracy, defendants reduced the supply of steel products in the market, which caused prices artificially to rise. Absent a collusive agreement, plaintiffs allege these production cuts were against the individual competitive interests of each participating defendant.
Proposed Class
The proposed class consists of all persons or entities who purchased steel products directly from defendants between January 1, 2005 and the present.
Defendants
The defendants in the case are Arcelormittal; Arcelormittal USA, Inc.; United States Steel Corporation; Nucor Corporation; Gerdau Ameristeel Corporation; Steel Dynamics, Inc.; AK Steel Holding Corporation; SSAB Swedish Steel Corporation; and Commercial Metals, Inc.
Case Status
On September 12, 2008, Plaintiffs filed a Class Action Complaint in United States District Court for the Northern District of Illinois.
On June 12, 2009, U.S. District Court Judge James B. Zagel denied defendants' motion to dismiss.
On February 3, 2011, the Court granted plaintiffs’ motion to compel production of documents from defendants, ArcelorMittal, Nucor, Steel Dynamics, AK Steel Holding, SSAB Swedish Steel, and Commercial Metals Company.
Case Resources
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2/3/11
Order re Plaintiffs' Motion to Compel
U.S. District Court
6/12/09
U.S. District Court
9/12/08
U.S. District Court
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