Steel Antitrust Litigation

Settlement: Standard Iron Works v. ArcelorMittal, 639 F. Supp. 2d 877 (N.D. Ill.2009)

Settlement Fund: $194,000,000.00

Case Synopsis: Members of the Settlement Class purchased Steel Products (defined as products derived from raw carbon steel) directly from a defendant at any time from April 1, 2005, through December 31, 2007 in the United States. Excluded from the Class are any defendants, their employees, and their respective parents, subsidiaries, affiliates, and joint ventures; all who timely elected to exclude themselves from the Class; and all governmental entities.

Eligibility Requirements: The term “Purchased” includes all transactions for which pricing was negotiated during the period April 1, 2005 through December 31, 2007 and delivery was received during that period. Qualifying purchases also include Steel Product transactions for which a sales contract was negotiated before April 1, 2005, but (i) delivery was received between April 1, 2005 and December 31, 2007, and (ii) the actual transaction price under the contract was adjusted (or indexed) based on market pricing that prevailed during the period April 1, 2005-December 31, 2007.