Stora Enso Price-Fix Case Revived by U.S. Appeals Court
Stora Enso North America Corp., a former unit of the Finnish commercial printing products company, must face an antitrust lawsuit brought by its customers, a federal appeals court ruled, reversing a trial judge’s dismissal of the case. The U.S. Court of Appeals in Manhattan said today that a jury could potentially find that the company, which was sold to Newpage Corp. in 2007, conspired to fix prices.
Paper buyers alleged that executives at Stora Enso’s then U.S. unit and another Finnish paper maker, Helsinki-based UPM- Kymmene Ojy, engaged in secret meetings and conspired to fix prices in 2002 and 2003.
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