U.S. Appeals Court Rules Against Stora Enso

The case, brought by paper buyers, alleged that executives at Stora Enso's then-U.S. unit engaged in secret meetings with UPM-Kymmene Oyj—another Finnish paper manufacturer—and conspired to fix publication paper prices during 2002 and 2003, according to the decision. Plaintiff damages were estimated to be upwards of $102.5 million.