May 22, 2015

Sigma Corp. has agreed to pay $4.9 million to a group of direct purchasers of ductile iron pipe fittings to settle a putative class action in New Jersey federal court accusing the company and two others of fixing prices and other anti-competitive behavior, according to a memorandum filed Thursday.

Sigma, which was sued in February 2012 along with Star Pipe Products Ltd. and McWane Inc., will also cooperate on witness deposition, document authentication, and clarification of its transaction, cost and rebate data to aid the plaintiffs in litigation against nonsettling defendants, according to the memo in support of a motion for preliminary approval of the settlement.

The parties agreed on the principal amount, to be paid in three equal amounts by May 2017, after two days of mediation that concluded “arm's length” negotiations that began in September, the brief said.

The full article can be read here.