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This Just In: Titan Sued for Price Fixing! |
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Thursday, 22 October 2009 18:56 |
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This just in over the wires for you to add to your comments to DAQ Chief Keith Overcash and Governor Bev Perdue on Titan's draft air permit. Yesterday, October 21, the New York law firm of Labaton Sucharow, LLC, filed a class-action lawsuit in the U.S. District Court for South Florida against Titan Cement and several other cement manufacturers alleging a major price-fixing scandal. According to Reuters, Titan and the other companies allegedly conspired to artificially inflate the price of cement. The law firm filed the large class-action suit on behalf of all purchasers of Portland cement or Ready-Mix concrete in the state of Florida since 2000. Jay Himes, co-chair of the law firm's anti-trust division and former top anti-trust lawyer for New York's Attorney General, told Reuters Business Wire, "We intend to vigorously prosecute on behalf of our clients that have been hurt as a result of this major price fixing scandal." [emphasis added] Other companies targeted in the lawsuit along with Titan include some of the biggest names in the business: Cemex, Holcim, Lafarge, Lehigh, Suwannee American, Florida Rock Industries, and Votorantim Cimentos.
Any local builder or developer who thinks Titan will provide them with a "cheap" supply of cement, should think again, as should anyone who believes this company will be a "good corporate citizen." Their actions at the hearing (busing in out of state ringers) and this new lawsuit should show everyone Titan's true colors. Read all about it on Reuters at: http://www.reuters.com/article/pressRelease/idUS186981+22-Oct-2009+BW20091022 See the actual lawsuit here: http://stoptitan.org/uploads/titan_suit.pdf
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