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WHEELING, W.Va. - An Esmark Inc. subsidiary has settled a lawsuit filed by a family owned scrap business that claimed the company illegally interfered with a supply contract with Wheeling-Pittsburgh Corp.
| ESMK | 19.27 |  0.03 |
Esmark announced the settlement between Esmark Steel Services Group and Herman Strauss Inc. on Friday. Terms of the settlement were not revealed.
Wheeling-based Herman Strauss sued the company and Wheeling-Pitt in June 2007. Herman Strauss said it was to supply nearly $400 million of scrap to Wheeling-Pitt per year through April 2009, but the contract was wrongfully terminated after Esmark seized control of Wheeling Pitt in a proxy fight in 2006.
Herman Strauss claimed the contract's termination cost it more than $18 million.
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