11th Circ. Upholds Nucor Win In Antitrust Suit

Law360, New York (July 16, 2013, 1:11 PM ET) -- The Eleventh Circuit on Monday said a lower court properly tossed a suit alleging steel producer Nucor Corp. violated antitrust laws by outbidding Gulf States Reorganization Group Inc. in a bankruptcy auction, saying GSRG didn't prove Nucor could actually monopolize the market.

The circuit court said that GSRG, which sought to purchase the assets of now-shuttered Gulf States Steel Inc., failed to show that Nucor, which produces black hot rolled coil steel, effectively cornered the market. It reasoned that there are steel manufacturers who make a...
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