Investors Bash Reddy Ice Over Alleged Cartel Antics

Law360, New York (November 3, 2009, 1:07 PM EST) -- Already embroiled in high-profile antitrust litigation, Reddy Ice Holdings Inc. now faces a consolidated class action from investors alleging the company’s scheme to corner the packaged ice market artificially inflated the stock price and led to massive shareholder losses.

On Monday the lead plaintiffs refreshed their claims against Reddy Ice in the U.S. District Court for the Eastern District of Michigan, accusing the nation’s largest packaged ice manufacturer of concealing its cartel activities from investors who have seen its stock price plummet from more than $31...
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