Weyerhaeuser Loses Antitrust Suit, Ordered to Pay $28 Million
A Portland jury awarded plaintiffs $28 million today 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, citing a 2007 case in which a $79 million antitrust ruling against the company was overturned by the U.S. Supreme Court. A spokesperson for Weyerhaeuser says the company is confidant that the 2007 decision will be used by the judge overseeing the appeal.
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