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Case 1:08-Cv-05214 Document 1 Filed 09/12/2008 Page 1 of 38 Case 1:08-cv-05214 Document 1 Filed 09/12/2008 Page 1 of 38 IN THE UNITED STATES DISTRICT COURT FOR THE NORTHERN DISTRICT OF ILLINOIS __________________________________________ : STANDARD IRON WORKS, : on behalf of itself and all others : CIVIL ACTION NO. similarly situated, : Plaintiff, : : v. : : ARCELORMITTAL; : ARCELORMITTAL USA, INC.; : UNITED STATES STEEL CORPORATION; : CLASS ACTION COMPLAINT NUCOR CORPORATION; : GERDAU AMERISTEEL CORPORATION; : JURY TRIAL DEMANDED STEEL DYNAMICS, INC.; : AK STEEL HOLDING CORPORATION; : SSAB SWEDISH STEEL CORPORATION; : COMMERCIAL METALS, INC., : : Defendants. : __________________________________________: COMPLAINT Plaintiff Standard Iron Works, individually and on behalf of a Class of all those similarly situated, brings this action for treble damages under the antitrust laws of the United States against Defendants, and demands a trial by jury. NATURE OF THE ACTION 1. This suit is brought as a class action pursuant to Fed. R. Civ. P. 23 on behalf of a plaintiff class, defined more fully below in Paragraph 20, consisting of all persons and entities who purchased steel products directly from Defendants between January 1, 2005 and the present (the “Class Period”). Case 1:08-cv-05214 Document 1 Filed 09/12/2008 Page 2 of 38 2. The gravamen of this action is that Defendants conspired to fix, raise, maintain and stabilize the price at which steel products were sold in the United States during the Class Period. The mechanics of Defendants’ conspiracy included a scheme designed to, and which had the effect of, artificially restricting the supply of steel products in the United States, thereby allowing Defendants to charge supra-competitive prices to the plaintiff class. 3. Throughout the Class Period, and as detailed below, Defendants met with each other to discuss the need to impose industry production “discipline” and to “adjust their production rates so the price of steel doesn’t drop.” These and other calls to arms and pledges by and between Defendants were followed with action: massive, coordinated and unprecedented market downtime, i.e., idling and/or reducing production of steel products. By acting in concert pursuant to their conspiracy, Defendants removed substantial amounts of steel products from the market, which caused prices artificially to rise. 4. The impact on the plaintiff class has been and continues to be substantial. As a result of “being squeezed by the steel mills’ market domination and shortening of supply,” direct purchasers of steel paid substantially more for steel products during the conspiracy period than they would have paid in a competitive market. JURISDICTION AND VENUE 5. This action is instituted under Sections 4 and 16 of the Clayton Act, 15 U.S.C. §§ 15 and 26 to recover treble damages, and the costs of this suit, including reasonable attorneys’ fees, against Defendants for the injuries sustained by Plaintiff and the members of the Class by reason of Defendants’ violations of Section 1 of the Sherman Act, 15 U.S.C. § 1. 2 Case 1:08-cv-05214 Document 1 Filed 09/12/2008 Page 3 of 38 6. This Court has jurisdiction under 28 U.S.C. §§ 1331, 1337 and Sections 4 and 16 of the Clayton Act, 15 U.S.C. §§ 15(a) and 26. 7. Venue is appropriate in this District under Sections 4, 12 and 16 of the Clayton Act, 15 U.S.C. §§ 15, 22 and 26 and 28 U.S.C. § 1391(b), (c) and (d), because during the Class Period the Defendants resided or transacted business in this District, and because a substantial portion of the affected interstate commerce described herein was carried out in this District. PARTIES 8. Plaintiff Standard Iron Works is a Pennsylvania corporation with its principal place of business in Scranton, Pennsylvania. During the Class Period, Standard Iron Works purchased steel products directly from one or more of the Defendants. 9. Defendant ArcelorMittal (“Mittal” or “Mittal Steel”) is a Luxembourg corporation with its principal place of business at 19 Avenue de la Liberte, L-2930, Luxembourg, Grand Duchy of Luxembourg. Defendant ArcelorMittal, formerly known as Mittal Steel Company N.V. and/or as Ispat International N.V., has extensive operations in the United States, either directly or through its wholly-owned and controlled subsidiaries and affiliates. During the Class Period, ArcelorMittal and/or its predecessors, wholly-owned or controlled subsidiaries or affiliates sold steel products directly to purchasers in the United States. 10. Defendant ArcelorMittal USA, Inc. (“Mittal” or “Mittal Steel”) is the principal United States operating subsidiary of ArcelorMittal. ArcelorMittal USA, Inc. is a wholly-owned subsidiary of ArcelorMittal with its principal place of business at 1 South Dearborn, Chicago, IL 60603. ArcelorMittal USA is the successor of the following relevant entities: International Steel Group, Inc.; Mittal Steel USA ISG, Inc.; Ispat Inland; and Mittal Steel USA, Inc. During the 3 Case 1:08-cv-05214 Document 1 Filed 09/12/2008 Page 4 of 38 Class Period, ArcelorMittal USA and/or its predecessors, wholly-owned or controlled subsidiaries or affiliates sold steel products directly to purchasers in the United States. 11. Defendant United States Steel Corporation (“U.S. Steel”) is a Delaware corporation with its principal place of business at 600 Grant Street, Pittsburgh, Pennsylvania 15219. During the Class Period, U.S. Steel and/or its predecessors, wholly-owned or controlled subsidiaries or affiliates sold steel products directly to purchasers in the United States. 12. Defendant Nucor Corporation (“Nucor”) is a Delaware corporation with its principal place of business at 1915 Rexford Road, Charlotte, North Carolina 28211. During the Class Period, Nucor and/or its predecessors, wholly-owned or controlled subsidiaries or affiliates (including Nucor-Yamato Steel Company, an affiliate owned and controlled by Nucor) sold steel products directly to purchasers in the United States. 13. Defendant Gerdau Ameristeel Corporation (“Gerdau Ameristeel”) is a Canadian corporation with its principal place of business at 4221 West Boy Scout Boulevard, Suite 600, Tampa, Florida 33607. During the Class Period, Gerdau Ameristeel and/or its predecessors, wholly-owned or controlled subsidiaries or affiliates sold steel products directly to purchasers in the United States. 14. Defendant Steel Dynamics, Inc. (“Steel Dynamics”) is an Indiana corporation with its principal place of business at 6714 Pointe Inverness Way, Suite 200, Fort Wayne, Indiana 46804. During the Class Period, Steel Dynamics and/or its predecessors, wholly-owned or controlled subsidiaries or affiliates sold steel products directly to purchasers in the United States. 15. Defendant AK Steel Holding Corporation (“AK Steel”) is a Delaware corporation with its principal place of business at 9227 Centre Point Drive, West Chester, Ohio 45069. 4 Case 1:08-cv-05214 Document 1 Filed 09/12/2008 Page 5 of 38 During the Class Period, AK Steel and/or its predecessors, wholly-owned or controlled subsidiaries or affiliates sold steel products directly to purchasers in the United States. 16. Defendant SSAB Swedish Steel Corporation (“SSAB”) is a Swedish corporation headquartered in Stockholm, Sweden, with its principal North American place of business at 650 Warrenville Road, Suite 500, Lisle, Illinois 60532. SSAB is the successor of IPSCO, Inc. (“IPSCO”). During the Class Period, SSAB and IPSCO and/or their predecessors, wholly-owned or controlled subsidiaries or affiliates sold steel products directly to purchasers in the United States. 17. Defendant Commercial Metals Company (“Commercial Metals”) is a Delaware corporation with its principal place of business at 6565 MacArthur Boulevard, Irving, Texas 75039. During the Class Period, Commercial Metals and/or its predecessors, wholly-owned or controlled subsidiaries or affiliates sold steel products directly to purchasers in the United States. CO-CONSPIRATORS 18. Various other persons, firms and corporations, not named as Defendants, have participated as co-conspirators with Defendants and have performed acts and made statements in furtherance of the conspiracy. 19. In this Complaint, whenever reference is made to any act of any corporation, the allegation means that the corporation engaged in the act by or through its officers, directors, agents, employees or representatives while they were actively engaged in the management, direction, control or transaction of the corporation’s business or affairs. 5 Case 1:08-cv-05214 Document 1 Filed 09/12/2008 Page 6 of 38 CLASS ACTION ALLEGATIONS 20. Plaintiff brings this action on behalf of itself and as a class action under the provisions of Rule 23(a), (b)(2) and (b)(3) of the Federal Rules of Civil Procedure on behalf of all members of the following Class: All persons (excluding Defendants, their present and former parents, subsidiaries, affiliates and Co-Conspirators and government entities) who purchased steel products directly from any of the Defendants or their subsidiaries or affiliates for delivery in the United States or for pickup at any United States facility at any time from at least as early as January 2005 until the Present. 21. For purposes of this Complaint, steel products include all products derived from raw steel and sold by Defendants, including, but not limited to, steel sheet and coil products; galvanized sheet and other galvanized and/or coated steel products; tin mill products; steel slabs and plates; steel beams, blooms, rails, and other structural shapes; steel billets, bars, and rods; steel pipe and other
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