Gulf States Reorganization Group, Inc. v. Nucor Corp.

In this antitrust case, GSRG challenged the district court's grant of summary judgment in favor of Nucor. The court affirmed, concluding that GSRG's definition of the product market was too restrictive, for it refused to acknowledge that pickled and oiled steel manufacturers could enter the fray in order to enrich themselves on the inflated prices of black hot rolled coil steel. That would, in turn, increase the supply, and lower the price, of black hot rolled coil steel. It would also sap Nucor's potential monopoly over power. GSRG ignored this "actual or potential" economic construct, and its failure to account for cross-elasticity of supply was fatal to the attempted monopolization claim under the Sherman Act, 15 U.S.C. 2. View "Gulf States Reorganization Group, Inc. v. Nucor Corp." on Justia Law