Steelmakers could turn against rivals in lawsuit
May 23, 2014 | 07:40 PM
| Nat Rudarakanchana
NEW YORK AK Steel Corp. and Gerdau Ameristeel Corp. could help steel fabricators in a federal antitrust lawsuit by providing information against other defendants if a legal settlement scheduled for a July 10 hearing in U.S. District Court in Illinois is approved.
If the settlement is implemented, West Chester, Ohio-based AK Steel and Tampa, Fla.-based Gerdau will assist the plaintiff steel consumers with witnesses for interviews as well as documents.
Scranton, Pa.-based Standard Iron Works filed the original lawsuit in September 2008 alleging that eight major steelmakers colluded to restrict steel production and influence prices.....
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