Ainsworth Lumber Co., Vancouver, Canada, has entered into an agreement with the direct-purchaser plaintiffs in the OSB Antitrust Litigation. Under the agreement, Ainsworth will pay US$8.6 million to be distributed across the settlement class.
Five building products distributors had filed a class-action lawsuit against manufacturers of OSB, including Ainsworth, alleging the suppliers suppressed supply to raise prices to unprecedented highs, despite increasing demand.
J.M. Huber Corp. has also settled in the case. The other suppliers named in the lawsuit are: Louisiana-Pacific Corp., Georgia-Pacific Corp., Weyerhaeuser Co., and Potlatch Corp. Plaintiffs include Sawbell Lumber, Philadelphia, PA; Norwood Sash & Door Manufacturing, Cincinnati, OH; Columbare Inc., Jamestown, NY; West Lumber, Upper Darby, PA; and Frontier Lumber Co., Erie, PA.
By settling the case, Ainsworth has not admitted liability. The decision to enter into the settlement agreement was based solely on the need to avoid prolonged, expensive litigation,” the company said in a release.
The lawsuit was filed in the U.S. District Court for the Eastern District of Pennsylvania.