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UPDATE

A partial settlement has been reached in with Defendant United States Steel Corporation (“U. S. Steel”), in which U.S. Steel has agreed to pay $58 million to settle the claims made against it in this case.

Important Dates Relating to the U.S. Steel Settlement

Exclusion: September 10, 2014
Objection: September 10, 2014
Notice of Intention: September 10, 2014
Hearing: October 17, 2014 at 11:00 a.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 certain Steel Products. Defendants Commercial Metals Company (“CMC”), AK Steel Holding Corporation (“AK Steel”), Gerdau Ameristeel Corporation (“Gerdau”), ArcelorMittal S.A. and ArcelorMittal USA, LLC and United States Steel Corporation (“U.S. Steel”) (collectively, 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.

UPDATE

An additional partial settlement was reached with Defendants ArcelorMittal S.A. and ArcleorMittal USA, LLC (together “ArcelorMittal”) in which ArcelorMittal agreed to pay $90 million to settle the claims made against them in this lawsuit. The ArcelorMittal Settlement is in addition to the $15.9 million in settlements reached with CMC, AK Steel and Gerdau and brings the total settlements in this case to $105.9 million.

Important Dates Relating to the ArcelorMittal Settlement

Exclusion: August 19, 2014
Objection: August 19, 2014
Notice of Intention: August 19, 2014
Hearing: October 17, 2014 at 11:00 a.m.