July 2, 2024
Steel rebar giant Commercial Metals (CMC.N), opens new tab must face an antitrust lawsuit that accuses it of sidelining a potential competitor by frustrating its efforts to build a mill in Southern California, driving up rebar prices.
In a ruling, opens new tab unsealed on Friday, U.S. District Judge Haywood Gilliam Jr. in Oakland, California, denied a request from Commercial Metals for summary judgment in the 2020 lawsuit from plaintiff Pacific Steel.
Gilliam’s order, which also denied Pacific Steel’s summary judgment request, sets the case on course for a trial in October. Pacific Steel has alleged that Commercial Metals’ conduct caused rebar purchasers to overpay by $50 million a year.
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For Pacific Steel: Benjamin Brown of Cohen Milstein Sellers & Toll; and Christopher Wheeler of Farella Braun + Martel
Read Steel Rebar Maker Commercial Metals Must Face Rival’s Antitrust Lawsuit.