Filling Deadline: 1st Group of Settlement – February 3, 2015
Settlement Amount: 1st Group of Settlement – $163.9 Million
Class Members Eligible for the Steel Antitrust Litigation Settlement:
All persons who purchased Steel Products directly from any of the Defendants or their subsidiaries or controlled affiliates at any time between April 1, 2005 and December 31, 2007 for delivery in the United States.
What are Steel Products as they pertain to the Steel Class Action Antitrust Settlement?
Steel Products are defined as products derived from raw carbon steel, including all carbon steel slabs, plates, sheet and coil products, galvanized and other coated sheet products; billets, blooms, rebar, merchant bar, beams and other structural shapes; and all other steel products derived from raw carbon steel, except for certain products that have been excluded.
Steel Products specifically exclude the following product categories: stainless steel; grain-oriented electrical steel; tin mill products; clad plate (i.e., nickel, stainless or copper clad plate); steel pipe and other tubular products; “special bar quality” products; wire rod and other wire products; grinding balls; fabricated rebar products; fabricated steel joist, decking, fence posts and other fabricated building products; welded steel blanks; and steel products purchased under toll processing agreements.
Steel Class Action Antitrust Litigation Settlement Case History:
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.
Settlements have been reached with five of the defendants, who have paid $163.9 million into a settlement fund for the benefit of the Settlement Class. ArcelorMittal has paid $90 million; U.S. Steel has paid $58 million; Gerdau has paid $6.1 million; AK Steel has paid $5.8 million; and CMC has paid approximately $4 million. The Court has approved the settlements, and the claims process is underway. 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 litigation will continue against the other Defendants: Nucor Corporation, Steel Dynamics, Inc., and SSAB Swedish Steel Corporation (collectively the “Non- Settling Defendants”).
Our Class Action Settlement Services:
CAC Recovery navigates the complex intricacies of the Steel Antitrust Litigation Settlement claims filing process to help businesses maximize their settlement recoveries.
Our class action settlement services include:
- Identifying class action claims where businesses may be eligible to file
- Filing the class action claim with supporting documentation
- Interacting with the class action Claims Administrator
- Providing updates on class action claim settlements status
- Resolving Claims Administrator questions on claims
- Reviewing the recovery to assure the correct compensation claims amount has been received
Our Guarantee: We Get Paid When You Recover – No hidden charges or up-front fees. We provide our class action settlements services based on a contingency fee.
Getting Started is easy! If you represent a business we’ll first have you fill out our ‘Get Started‘ form and a CAC representative will contact you within 24 hours to review your eligibility and walk you through the claims process.