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UPDATE

The court will hold a hearing on class counsel's motion for attorneys' fees and reimbursement of litigation expenses on Tuesday, October 21 at 2:30 p.m. in Courtroom 2503, Everett McKinley Dirksen United States Courthouse, 219 South Dearborn Street, Chicago, IL 60604.

As you previously have been notified, partial settlements have been reached in a class action lawsuit involving certain Steel Products. Defendants Commercial Metals Company, AK Steel Holding Corporation, Gerdau Ameristeel Corporation, ArcelorMittal, ArcelorMittal USA, Inc., and United States Steel Corp. (collectively, the “Settling Defendants”), will pay a total of $163.9 million into a Settlement Fund.

The deadline for objections has been extended to October 15, 2014. If you are a member of the Settlement Class, and have not excluded yourself from the Settlement Class, you may object to all or part of the Settlements, Plaintiffs’ Counsel’s request for attorneys’ fees and/or reimbursement of expenses, or the proposed plan of allocation and distribution. To object, you must follow the instructions set forth in the April and July Notices, which are available on the Case Documents page of this site. All objections must be received by the Court no later than October 15, 2014.

Please note, the deadline for excluding yourself from the Settlements has passed.

Plaintiffs’ Counsel have filed with the Court papers in support of final approval of the Settlements, including their petition for attorneys’ fees and reimbursement of litigation expenses, and a proposed plan of allocation and distribution of the proceeds of the Settlements. You may download those papers here.

Important Dates

Objection: October 15, 2014
Notice of Intention: October 15, 2014
Hearing: October 17, 2014 at 11:00 a.m.
Hearing on class counsel's motion for attorneys' fees and reimbursement of litigation expenses: October 21, 2014 at 2:30 p.m.

In re Steel Antitrust Litigation is a class action lawsuit alleging violations of the U.S. antitrust laws by several steel manufacturers including ArcelorMittal S.A., ArcelorMittal USA, LLC, Nucor Corporation, United States Steel Corporation, Gerdau Ameristeel Corporation, AK Steel Holding Corporation, Steel Dynamics, Inc., SSAB Swedish Steel Corporation, and Commercial Metals Company (“Defendants”). The steel manufacturers were sued by several businesses (“Plaintiffs”) for the alleged violations of restricting output and therefore raising or “fixing” the prices for Steel Products sold for delivery in the United States between April 1, 2005 and December 31, 2007. The Plaintiffs are Standard Iron Works, Wilmington Steel Processing Co., Inc., Capow, Inc. d/b/a Eastern States Steel, Alco Industries, Inc., and Gulf Stream Builders Supply, Inc. The Court has appointed the firms Fine, Kaplan and Black, R.P.C. and Kellogg, Huber, Hansen, Todd, Evans & Figel, P.L.L.C. as Interim Co-Lead Class Counsel.

Please be advised that your rights may be affected by this class action lawsuit if, during the period between April 1, 2005 and December 31, 2007 you bought Steel Products directly from one or more of the Defendants for delivery in the United States.

Partial settlements have been reached in a class action lawsuit involving the Settling Defendants. The Settling Defendants have agreed to pay $163.9 million for the benefit of the Settlement Class. Gerdau will pay $6.1 million; AK Steel will pay $5.8 million; CMC will pay $3,999,999; ArcelorMittal will pay $90 million and U.S. Steel will pay $58 million. The money will be put into a Settlement Fund to be distributed at a later time.