A national multi-district class action has been certified in the United States District Court for the Southern District of New York. The action is brought on behalf of all consumers who directly purchased high pressure laminate products from the named manufacturers between the period of January 1, 1994 and June 30, 2000. The named defendants are all manufacturers of "High Pressure Laminate (HPLs)" products and include the International Paper Company, Panolam Industries International, Pioneer Plastics Corporation, Premark International, Wilsonart International and the Formica Corporation. The action alleges that the manufacturers engaged in a systematic and intentional course of action aimed at
Inflating and fixing prices in the United States for HPLs. The purchasers allege that the manufacturers' course of conduct violated the Sherman Anti-Trust Act and caused consumers nationwide to pay more for HPLs than they would have had to if the manufacturers had not conspired to fix prices. The action seeks unspecified compensatory damages, disgorgement of profits, statutory damages as well as injunctive and declaratory relief.

This action arises from what purchasers allege was a systematic and intentional course of action on part of the manufacturers of HPLs to fix, inflate and otherwise influence the prices of their products. According to the purchasers, starting at approximately January 1, 1994 the manufacturers entered into an agreement, understanding and conspiracy in which they actively sought to artificially inflate, fix, maintain or stabilize the prices for HPLs in the United States. HPLs are used in the building industry to make durable and impact-resistant decorative surface products such as, flooring, countertops, doors, desktops and are generally composed of layered paper, foil or plastic that are bonded together under high pressure and heat to form a single sheet or panel of material. The purchasers allege that the manufacturers were able to fix the price of HPLs by issuing price announcements and price quotations that were pre-arranged, through agreement, and that offered HPLs to consumers at uncompetitive prices. Because the manufacturers enjoyed a majority share of the market for HPLs, consumers were forced to pay the uncompetitive prices set by the manufacturers. This, according to the purchasers, resulted in an unreasonable restraint of interstate trade and commerce and violated the federal Sherman Anti-Trust Act.

At this time, a class has been certified against the named manufacturers and notice has been issued. The defendant, Formica Corporation, has initiated bankruptcy proceedings and action is currently stayed against this manufacturer pending the resolution of those proceedings. At this time, the deadline to opt-out of this action has passed. Discovery is proceeding in this action and a pre-trial conference is scheduled for March 4, 2004.