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April 29, 2008

Weyerhaeuser to Appeal Monopoly Decision

Weyerhaeuser Company, Federal Way, WA, said it will appeal a jury decision rendered in a class action lawsuit claiming that Weyerhaeuser unlawfully monopolized an alleged market for finished alder lumber.
 
A jury in Portland, OR, awarded the plaintiffs $27.98 million, which will be trebled under antitrust laws.
 
"We are very disappointed with the verdict,” said Sandy D. McDade, Weyerhaeuser senior vice president and general counsel. “We are confident it will be reversed on appeal because last year the U.S. Supreme Court decided in our favor a case presenting virtually identical issues. We fully expect that the Court of Appeals will apply that precedent. Our business conduct has been and remains within the spirit and letter of the law, and we will continue to vigorously defend this case."
 
Weyerhaeuser Company, forest products company, had 2007 sales of $16.3 billion. It has offices or operations in 13 countries. Weyerhaeuser is engaged in the growing and harvesting of timber; the manufacture, distribution and sale of forest products; and real estate construction, development and related activities.

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