Overview
On May 10, 2018, Judge Thompson of the United States District Court for the District of New Jersey granted final approval of an $8.8 million settlement against McWane, the last-remaining defendant, bringing total recoveries to more than $17.3 million, in this price-fixing conspiracy class action.
Purchasers of ductile iron pipe fittings (“DIPF”) claimed that McWane, Inc., Sigma Corporation, and Star Pipe Products, Ltd.— the three principal manufacturers of DIPF in the United States, representing 90% of the domestic market – allegedly conspired to fix prices.
On May 15, 2012, the court appointed Cohen Milstein as co-lead counsel on behalf of a class of direct purchasers.
Case Background
Plaintiffs allege that defendants McWane, Sigma Corporation, and Star Pipe Products—the three principal manufacturers of DIPF representing more than 90% of the United States Market—first conspired to fix the prices of DIPF from at least January 2008 through May 2009.
Plaintiffs also allege that from September 17, 2009, through at least January 3, 2012, the defendants McWane and Sigma conspired to monopolize and fix prices in the domestic DIPF Market.
The Federal Trade Commission brought enforcement proceedings against Defendants challenging the same conduct for which the plaintiffs seek relief. As a result of the FTC’s enforcement action, both Sigma and Star entered into consent decrees with the FTC in which they were directed to cease and desist from conspiring to “maintain or stabilize prices” with their competitors.