Star Pipe Products Pays $3.6M To Settle Price-Fixing Suit

By Matthew Bultman (July 7, 2015, 12:37 PM EDT) -- Star Pipe Products Ltd. has agreed to pay roughly $3.6 million to direct purchasers of iron pipe fittings to settle a potential class action in New Jersey federal court accusing the company of engaging in a price-fixing conspiracy, according to a Monday filing.

Star Pipe, which was sued in February 2012 along with Sigma Corp. and McWane Inc., is the second defendant to reach a deal with the direct purchasers. Sigma agreed in May to pay the direct purchasers $4.9 million.

Under Monday's proposal, which needs a judge's approval, Star Pipe would deposit just over $3.6 million into an escrow account...

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