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prima:Federal Department of Justice alleges the existence of a “steel cartel” in Puerto Rico

For eight years, Aceros de América and its executives conspired with other metal and metal products retailers to fix prices, alleges federal court; a businessman has sued for $500 million in damages

August 19, 2024 - 1:00 PM

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This content was published more than 4 months ago.
La varilla de acero ha sido el material que más ha aumentado. (GFR Media)
A lawsuit that is expected to become a class action seeks to recover at least $500 million in damages caused by a steel price gouging scheme revealed by Federal Justice that would have cost millions to businesses and consumers in Puerto Rico.

A lawsuit filed at the federal level alleges that, in Puerto Rico, a “steel cartel” was created among at least three companies that sell this raw material, rebar and other construction materials, in order to fix prices and obtain millionaire profits above their real price.

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