Jury awards MM Steel $52M in antitrust case
Mar 26, 2014 | 03:08 PM
| Catherine Ngai
NEW YORK A Texas federal court jury has awarded MM Steel LP $52 million in its lawsuit against a group of large steel mills and service centers for allegedly conspiring to drive the Texas steel distributor out of business.
After weeks of litigation, a jury in the U.S. District Court in Texas found that distributors Reliance Steel & Aluminum Co. and subsidiary Chapel Steel Corp., American Alloy Steel Inc. and its president, Arthur J. Moore, as well as steelmakers JSW Steel (USA) Inc. and Nucor Corp., violated federal and state antitrust laws by conspiring to boycott MM Steel.
An attorney representing Houston-based MM Steel praised the verdict, which allows MM Steel "to compete on an even playing field."....
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