July 5, 2008
Saturday

     

Weyerhaeuser Loses Antitrust Suit, Ordered to Pay $28 Million

Date: 05-05-2008
Type: public policy
Categories: Corporate Governance / CSR - General
Source: Ethisphere
A Portland jury just awarded plaintiffs $28 million in a now four-year-old class-action antitrust lawsuit against North American lumber company Weyerhaeuser. The jury said that the company violated antitrust laws through high prices and buying unnecessary amounts of lumber to prevent their competition from getting their hands on it. According to one article, these tactics gave Weyerhaeuser control of nearly 75 percent of the lumber market.

The case was brought about by Morelock Enterprises, and eventually turned into a class-action suit. Weyerhaeuser plans to appeal.
Organization:
Ethisphere
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