Edgeworth Provides Economic Analysis of Monopolization Claims on Behalf of Asphalt Companies
Edgeworth Economics Partner Dr. George G. Korenko was retained by counsel for American Asphalt & Aggregate, Inc., American Asphalt of West Virginia, (collectively “American Asphalt”), and Blacktop Industries and Equipment Company (“BTI”) to assess merits and damages issues related to allegations of monopolization and attempted monopolization.
The West Virginia Attorney General alleged that 11 asphalt and paving companies worked to monopolize the state approved asphalt and paving market through acquisitions and non-compete agreements. In support of these claims, the State retained economic experts who submitted reports detailing their conclusions regarding merits issues and antitrust damages. Dr. Korenko submitted an expert report and testified in deposition to demonstrate that American Asphalt and BTI’s business decisions were economically rational and consistent with their unilateral self-interests. Dr. Korenko also showed that the plaintiffs’ damages analysis was flawed and failed to establish a causal link between the companies’ business decisions and any increase in asphalt prices due to the alleged conduct.
The case settled prior to trial, with all parties agreeing to settle “to avoid the delay, expense, inconvenience and uncertainty of protracted litigation.”