CHICAGO A federal judge has stayed a $156-million award to MM Steel LP in the companys antitrust lawsuit against a number of service centers and steel mills it accused of trying to force it out of business.
Implementation of the judgment, entered in favor of MM Steel on April 29, is being pushed back because the defendants in the case are seeking a new trial, according to documents filed in U.S. District Court in Texas earlier this week.
A federal court jury 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.
Houston-based MM Steel was awarded $52 million by the jury (amm.com, March 26), and the amount was tripled under provisions of U.S. antitrust laws (amm.com, April 30).
In addition to motions for a new trial, Baytown, Texas-based JSW Steel and Charlotte, N.C.-based Nucor have both filed appeals with the U.S. Court of Appeals.