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Management Side
Weyerhaeuser Will Appeal Class Action Verdict
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Federal Way, Washington, USA, 28 April 2008 — Weyerhaeuser Company (NYSE: WY) today said it will appeal a jury decision rendered in a class action lawsuit claiming that Weyerhaeuser unlawfully monopolized an alleged market for finished alder lumber.

A jury in Portland, Oregon, awarded the plaintiffs USD 27.98 million, which will be trebled under antitrust laws.

"We are very disappointed with the verdict,” said Sandy D. McDade, Weyerhaeuser senior vice president and general counsel. “We are confident it will be reversed on appeal because last year the U.S. Supreme Court decided in our favor a case presenting virtually identical issues. We fully expect that the Court of Appeals will apply that precedent. 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 Company, one of the world's largest forest products companies, was incorporated in 1900. In 2007, sales were USD 16.3 billion. It has offices or operations in 13 countries, with customers worldwide. Weyerhaeuser is principally engaged in the growing and harvesting of timber; the manufacture, distribution, and sale of forest products; and real estate construction, development, and related activities. Additional information about Weyerhaeuser's businesses, products, and practices is available at http://www.weyerhaeuser.com.

 

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