October 04, 2016

Cast iron soil pipe and fittings manufacturers have reached an agreement in principle to settle allegations that they violated federal antitrust laws by overcharging direct purchasers by some $385.1 million through fixing prices and muscling out competitors, according to a Monday filing in Tennessee federal court.

U.S. District Judge Harry S. Mattice Jr. gave both sides until Oct. 21 to hammer out the terms of the deal, which would settle allegations that Charlotte Pipe and Foundry Co., Randolph Holding Co., McWane Inc., AB&I Foundry, Tyler Pipe Co. and Cast Iron Soil Pipe Institute Inc. violated the Sherman Act by entering into agreements to fix, raise, maintain and stabilize the prices of the parts in the U.S., according to his order on Monday.

The full article can be read here.