More litigation has come to a close regarding an alleged price-fixing lawsuit involving major players in the steel industry.

In 2008, Pennsylvania-based Standard Iron Works and four other companies filed a lawsuit alleging U.S. Steel and ArcelorMittal conspired with six other domestic steel manufacturers “to manipulate the supply and price of steel products sold in the United States,” according to court documents. The plaintiffs alleged that, from April 1, 2005 to December 31, 2007, the eight steelmakers “conspired to restrict their output, thereby increasing the prices they were able to charge for steel products.”

Litigation has been ongoing since, though five of the companies listed as defendants— Commercial Metals Company, AK Steel Holding Corporation, Gerdau Ameristeel Corporation, ArcelorMittal and U.S. Steel—settled earlier this year.

Their settlements, according to court documents, were recently approved in the United States District Court for the Northern District of Illinois Eastern Division. Judge James B. Zagel issued final approval for ArcelorMittal and U.S. Steel on October 21 and AK Steel, Commercial Metals and Gerdau on October 23.

The class council’s motion for attorney fees and reimbursement of litigation expenses was also granted.

Throughout litigation, all of the settling defendants denied any wrongdoing as well as the allegations against them, though they claimed to have settled in order to avoid the cost of further litigation and trial.

The settlement amounts, which totaled $163.9 million, were made in accordance with the size of the companies and their output during the span of the alleged price-fixing.

According to court documents, ArcelorMittal accounted for approximately 20 to 25 percent of the total domestic raw steel capacity during that time, while U.S. Steel controlled approximately 16 percent.

Nucor, Steel Dynamics and SSAB Swedish Steel have yet to settle.

USGlass