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UPDATE

The settlements with Defendants Commercial Metals Company, AK Steel Holding Corporation, Gerdau Ameristeel Corporation, ArcelorMittal, ArcelorMittal USA, Inc., and United States Steel Corp. (collectively, the “Settling Defendants”) have all received final approval from the court. Additionally, the court has approved the motion for attorneys’ fees. All related documents can be downloaded by clicking here.


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.