No Pressure—Just $12 Billion on the Line as Containerboard Class Action Gets Closer to Trial
Taking a price fixing class action to trial is not for the faint of heart.
June 29, 2017 at 01:15 AM
5 minute read
Taking a price fixing class action to trial is not for the faint of heart. Damages are trebled, and any defendant left standing could be on the hook for the whole shebang.
That specter seemed to loom large for International Paper, which on Wednesday announced it would pay $354 million to settle a suit alleging seven industry players conspired to fix the price of containerboard products like corrugated boxes—a market that while unglamorous, is absolutely enormous.
“We continue to maintain that the allegations are baseless and without merit,” said International Paper CEO Mark Sutton in a news release. “However, we have agreed to settle this lawsuit in order to avoid substantial on-going legal expenses and the inherent risks of a multi-billion-dollar class-action lawsuit.”
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