A $58 million antitrust suit, claiming Chinese companies conspired to fix prices for the mineral magnesite, was dismissed July 24 by a Newark federal judge who found that the plaintiffs lacked statutory standing to sue.
Brought on behalf of U.S. purchasers of magnesite, the suit claims that 16 Chinese producers of the product formed cartels to restrain competition and raise prices, in violation of the Sherman Antitrust Act.
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