Frequently Asked Questions
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|1.||Why did I receive a Proof of Claim in this matter?|
If you bought Steel Products directly from one or more of the Defendants for delivery in the United States between April 1, 2005 and December 31, 2007, you could be a Settlement Class Member. Notices were previously mailed to you to inform you of your rights in the Settlements. The Proof of Claim indicates the total purchases each defendant has reported receiving from you.
|2.||What is the lawsuit about?|
The lawsuit alleges that the Defendants conspired, in violation of the U.S. antitrust laws, to restrict their output and therefore raise or fix the prices for Steel Products sold for delivery in the United States between April 1, 2005 and December 31, 2007.
The complaints allege that the Defendants violated the U.S. antitrust laws by conspiring to slow down their furnace production, thus restricting their output of raw steel and causing artificially higher prices for Steel Products.
The Defendants deny the allegations, and there has not yet been a determination of the merits of the case.
|3.||Who are the Defendants?|
The lawsuit was filed against ArcelorMittal S.A. and ArcelorMittal USA, LLC (together “ArcelorMittal”), Nucor Corporation (“Nucor”) , United States Steel Corporation (U.S. Steel”) , Gerdau Ameristeel Corporation (“Gerdau”), AK Steel Holding Corporation (“AK Steel”), Steel Dynamics, Inc. (“Steel Dynamics”), SSAB Swedish Steel Corporation (“SSAB”) and Commercial Metals Company (“CMC”).
In 2014, Defendants CMC, AK Steel, Gerdau, Arcelor Mittal and U.S. Steel agreed to settle the claims against them in this lawsuit and collectively paid $163.9 million into a Settlement Fund. The distribution of that Settlement Fund occurred in November 2015. In 2016, Defendants Nucor, Steel Dynamics and SSAB Swedish Steel also agreed to settle the claims against them in this lawsuit and will collectively pay a total of $30 million to settle the claims made against them. On February 16, 2017, this settlement was approved by the court.
The Settling Defendants deny the allegations against them, deny that they engaged in a conspiracy or did anything wrong, and have asserted a number of defenses, but they have nevertheless agreed to settle to avoid the cost of further litigation and trial.
|4.||Who is included in the Settlements?|
The Class is defined to include: All persons (except Defendants, their present and former parents, subsidiaries, affiliates, joint ventures, co-conspirators and government entities) who purchased Steel Products directly from any of the Defendants or their subsidiaries or controlled affiliates at any time between April 1, 2005 and December 31, 2007 for delivery in the United States.
|5.||Who is excluded from the Settlements?|
Excluded from the Settlement Class are the Defendants, their present and former parents, subsidiaries, affiliates, joint ventures, co-conspirators and government entities and any parties that previously requested exclusion from one or more of the Settlements.
|6.||What are Steel Products?|
Steel Products are defined as products derived from raw carbon steel, including all carbon steel slabs, plates, sheet and coil products, galvanized and other coated sheet products; billets, blooms, rebar, merchant bar, beams and other structural shapes; and all other steel products derived from raw carbon steel, except for certain products that have been excluded.
Steel Products specifically exclude the following product categories: stainless steel; grain-oriented electrical steel; tin mill products; clad plate (i.e., nickel, stainless or copper clad plate); steel pipe and other tubular products; "special bar quality" products; wire rod and other wire products; grinding balls; fabricated rebar products; fabricated steel joist, decking, fence posts and other fabricated building products; welded steel blanks; and steel products purchased under toll processing agreements.
|7.||What purchase transactions are included?|
All purchases of Steel Products for which pricing was negotiated during the class period, April 1, 2005 through December 31, 2007, and delivery was received during the class period.
Also included are purchases of Steel Products for which a sales contract was negotiated prior to April 1st, 2005 but delivery was received between April 1, 2005 and December 31, 2007 and the actual transaction price under the contract was adjusted or indexed based on market pricing that prevailed during the class period.
|8.||What does it mean to purchase "directly" from the Defendants?|
A direct purchase is a purchase made directly from one of the eight Defendants or a subsidiary or controlled affiliate of a Defendant. A purchase from an intermediary, such as a distributor or service center, is not a direct purchase.
|9.||What do the Settlements provide?|
The Settling Defendants have paid a total of $163.9 million for the benefit of the Settlement Class. ArcelorMittal has paid $90,000,000; U.S. Steel has paid $58,000,000; Gerdau has paid $6,100,000; AK Steel has paid $5,800,000; and CMC has paid $3,999,999. In 2016, Defendants Nucor, Steel Dynamics and SSAB Swedish Steel also agreed to settle the claims against them in this lawsuit and will collectively pay a total of $30 million to settle the claims made against them. On February 16, 2017, this settlement was approved by the court.
|10.||How do I submit a claim if I agree with the purchase data?|
If you would like to submit a claim and you agree with the purchase data printed on your Proof of Claim, sign and complete Part 4, Submission to Jurisdiction of the Court and Verification; and submit Proof of Claim form postmarked no later than February 3, 2015 to:
P.O. Box 10121
Dublin, Ohio 43017-3121
|11.||How do I submit a claim form if I disagree with the purchase data?|
If you disagree with the purchase data printed on your Proof of Claim Form, you must complete Sections 3 and 4 of the Proof of Claim form and submit it with documentation in support of the revised amounts, postmarked no later than February 3, 2015 to:
P.O. Box 10121
Dublin, Ohio 43017-3121
|12.||How can I get a Proof of Claim form?|
|13.||What is the deadline for submitting my Proof of Claim?|
If mailed, Proof of Claims must be postmarked no later than May 31, 2017. If sent in any other way, Proof of Claims must be received no later than May 31, 2017.
|14.||What if I received more than one Proof of Claim form?|
If you received multiple identical Proof of Claim forms (for example, at multiple addresses), you should complete and return only one of them. If you received multiple different Proof of Claim Forms, you should complete, sign and return all of them. The easiest way to determine whether Proof of Claim forms are identical or different is to compare the Reference Number on Page 1 of the form.
|15.||When will I receive a payment?|
It is not known precisely when payments will be made on the 2016 Settlement. The settlement was approved on February 16, 2017 and the claim forms were sent out on March 28, 2017. After the valid claims of all Class Members have been received and tabulated, the pro rata shares will be calculated then distributed on. The Settlement Agreements, available at the website www.SteelAntitrustSettlement.com, contain more details about the Settlements.
|16.||How much will my payment be?|
As described in the Plan of Allocation, each Class Member’s claim is based on the amounts each Class Member paid for qualifying Steel Products during the period April 1, 2005 – December 31, 2007. The net Settlement Funds will be distributed to Class Members on a pro rata basis, with Class Members’ purchases of Steel Products from all of the Defendants serving as the basis for the calculation. More information on the Plan of Allocation can be found here.
|17.||Do I have a lawyer in this case?|
The Court has appointed the following as Co-Lead Counsel for the Settlement Class:
FINE, KAPLAN AND BLACK, R.P.C.
One South Broad Street, 23rd Floor
Philadelphia, PA 19107
KELLOGG, HUBER, HANSEN, TODD, EVANS & FIGEL, P.L.L.C.
1615 M Street, NW, Suite 400
Washington, DC 20036
Plaintiff’s Counsel will represent you and other members of the Class. You will not be charged for these lawyers. They will be paid by asking the Court for a share of the Settlement Fund. If you want to be represented by your own lawyer, you may hire one at your own expense.
|18.||How will the Lawyers be paid?|
The Court will decide how much Plaintiffs’ Counsel will be paid. Plaintiffs’ Counsel will petition the Court for attorneys’ fees not to exceed 33% of the Settlement Fund, and for reimbursement of expenses incurred in litigating this case on behalf of the Class. Plaintiffs’ Counsel also will petition the Court for payment of incentive awards from the Settlement Fund to the five Class Representatives in an amount not to exceed $50,000.00 each, in recognition of their substantial time and effort expended in prosecuting this action. All awards of attorneys’ fees and expenses will be paid from the Settlement Fund after the Court approves them.
|19.||How do I get more information?|
You can get complete copies of the Settlement Agreements, Plan of Allocation, and other important documents located on the Case Documents page of this site.
Complete copies of public pleadings, Court rulings and other filings are available for review and copying at the Clerk's office. The address is United States District Court for the Northern District of Illinois, Everett McKinley Dirksen United States Courthouse, 219 South Dearborn Street, Chicago, IL, 60604.
January 12, 2017
Deadline for Requesting Exclusion
January 12, 2017
Deadline for Objections
February 16, 2017