BlueScope Steel sued for allegedly attempting to fix prices

Company News

by Rachael Jones

BlueScope Steel (ASX:BSL) informed the ASX today that the Australian Competition and Consumer Commission (ACCC) has started civil proceedings against them and their former employee Jason Ellis alleging contraventions of the Australian competition law cartel provisions.

The proceedings relate to conduct that allegedly involve Mr Ellis, during the period September 2013 to June 2014, attempting to induce various steel distributors in Australia and overseas manufacturers to enter agreements containing a price fixing provision.

The ACCC has not alleged that an agreement was reached or that an agreement was implemented.

Shares in BlueScope Steel (ASX:BSL) trading 0.65 per cent higher at $12.37.