$330 Million Antitrust Win with Bill Price and Steig Olson

Episode description:

John is joined by Bill Price, partner in Quinn Emanuel’s Los Angeles office, and Steig Olson, partner in Quinn Emanuel’s New York office. They discuss the landmark $110 million jury verdict, trebled to $330 million under antitrust law, Bill and Steig recently won in the U.S. District Court for the District of Northern California. The award will be increased to compensate for the costs and attorney’s fees incurred by the plaintiff. The dispute arose when Commercial Metals, a Texas-based competitor of Pacific Steel, purchased and shut down California’s only rebar mill, creating a regional monopoly in the rebar market—a critical component in construction. Pacific Steel planned to disrupt this monopoly by building a state-of-the-art, environmentally friendly steel mill using advanced Italian technology. However, Commercial Metals allegedly pressured the Italian supplier to block plaintiff Pacific Steel from accessing the necessary technology by creating a 500-mile radius “exclusivity” zone for the Italian technology around the steel mill they bought and shut down. Victory at trial hinged on simplifying a complex antitrust narrative into a clear, compelling story. Bill and Steig narrowed their case by focusing on the core issues, cutting extraneous expert testimony to streamline the presentation. They used an adverse witness, the former CEO of Commercial Metals, to expose the company’s internal communications, which highlighted its intent to maintain market dominance by obstructing Pacific Steel’s plans. Bill’s cross-examinations proved pivotal in exposing contradictions and discrediting the defendants’ narrative. The defendants primarily argued that the relevant market extended beyond California and that their exclusivity agreements were standard competitive practices. However, the jury found these defenses unconvincing, especially in light of evidence of deliberate efforts to suppress local competition and inflate prices. They also discuss the skillful collaboration between Steig, a rising young trial attorney, and Bill, a seasoned litigator renowned for his many trial victories.  This case underscores the importance of strategic focus, persuasive storytelling, and adaptability in high-stakes litigation.

Published: Nov 28 2024