Texas Steel Co. Strikes $4M Deal To Settle Antitrust Suit

Law360, New York (March 17, 2014, 1:48 PM EDT) -- A Texas steel company announced Friday that it will pay about $4 million to settle a proposed class action in Illinois federal court alleging that the company was one of several manufacturers involved in a scheme to coordinate production cuts and inflate steel product prices.

Irving, Texas-based Commercial Metals Co. issued a brief statement sketching the broad outlines of the settlement with the direct purchaser plaintiffs, noting that the $4 million price tag was lower than the anticipated cost of continuing to defend the case....
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