Weyerhaeuser to appeal decision in class action lawsuit

Weyerhaeuser to appeal jury decision in class action lawsuit claiming unlawful monopoly

CNNMoney.com

NEW YORK (Associated Press) - Weyerhaeuser Co. said late Monday it plans to appeal a jury decision in a class action lawsuit claiming that the forest products company unlawfully monopolized a market for finished alder lumber.

Weyerhaeuser said a jury in Portland, Ore., awarded the plaintiffs about $28 million.

"We are very disappointed with the verdict," said Sandy D. McDade, senior vice president and general counsel in a statement. "Our business conduct has been and remains within the spirit and letter of the law, and we will continue to vigorously defend this case."

Weyerhaeuser shares fell $1.20 to $64.97 in morning trading.

Posted on Wednesday, April 30th, 2008, in Our Work In the News |
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