Birmingham, Alabama-based O’Neal Steel won a court case Thursday against vendors the company claims sold them inferior steel and misrepresented the quality of the product.
The jury issued a verdict in favor of O’Neal Steel and Leeco Steel for $117 million, which includes $100 million in punitive damages and $17 million in Racketeering Influenced and Corrupt Organizations (RICO) Act damages.
Defendants in the case included General Purpose Steel Inc., World Wide Steel Unlimited Inc., David Chatkin, Lance Chatkin, Bruce Adelstein, Ryan Chatkin and Von Argyle.
“Manufacturers and distributors trust that the steel supplied to them is as represented, especially in critical structural applications, and consumers have to believe that the products they use will meet the required safety standards,” said Bill Jones, Vice Chairman of O’Neal Industries, parent company of O’Neal Steel and Leeco. “While we are not likely to recover all of the damages the jury has awarded to us, this case wasn’t about money. It was about doing the right thing and holding accountable those who put property and lives at risk.”