A Texas jury returned a verdict Friday against Reliance Steel & Aluminum Co. and four other co-defendants in an antitrust lawsuit filed in the US District Court for the Southern District of Texas.
According to news reports, the lawsuit stemmed from Reliance Steel’s involvement in legal affairs concerning two former employees who started their own business after leaving Reliance and alleged that the company was engaged in anticompetitive practices.
The jury jointly awarded the claimants $52 million in damages; Reliance has already indicated that the company plans to appeal.