LAWSUITS NEWS & LEGAL INFORMATION
Supply Contracts
This is a settlement for the Commercial lawsuit.
Wheeling, WV: (May-09-08) Herman Strauss Inc., a family owned scrap business, brought charges against Esmark Steel Services Group, an Esmark Inc. subsidiary, alleging that the company illegally interfered with a supply contract with Wheeling-Pittsburgh Corp. Wheeling-based Herman Strauss filed suit, naming Wheeling-Pitt as well as Esmark Steel as defendants.
The suit claimed that Strauss was to supply nearly $400 million of scrap to Wheeling-Pitt per year through April 2009 and that the contract was wrongfully terminated. Records show that the contract was terminated after Esmark seized control of Wheeling Pitt in a proxy fight in 2006. Herman Strauss officials said that the contract's termination cost the company over $18 million.
In a recent announcement, spokespersons on both sides stated that the dispute has been settled, though terms of the settlement were not revealed. [FORBES: ESMARK, HERMAN STRAUSS SETTLE CONTRACT DISPUTE]
Published on May-12-08
The suit claimed that Strauss was to supply nearly $400 million of scrap to Wheeling-Pitt per year through April 2009 and that the contract was wrongfully terminated. Records show that the contract was terminated after Esmark seized control of Wheeling Pitt in a proxy fight in 2006. Herman Strauss officials said that the contract's termination cost the company over $18 million.
In a recent announcement, spokespersons on both sides stated that the dispute has been settled, though terms of the settlement were not revealed. [
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