June 13, 2018 / 12:41 PM / 9 months ago

Brazil court rules against Gerdau in $113 mln antitrust case

BRASILIA, June 13 (Reuters) - A Brazilian appeals court has ruled against steelmaker Gerdau SA in an anti-trust lawsuit brought by two civil construction unions, the company said in a securities filing on Wednesday.

The ruling upheld a lower court decision ordering the company to pay a fine equivalent to 7 percent of gross sales in the year prior to the suit, or 417.8 million reais ($113.05 million), although that figure could be updated, it said. The company said it will continue to seek appropriate legal remedies and that its practices are based on free competition and transparency. ($1 = 3.6957 reais) (Reporting by Jake Spring)

Nuestros Estándares:Los principios Thomson Reuters
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below