The Colorado Attorney General’s Office reached a settlement agreement with General Steel Domestic Sales LLC, Capital Steel LLC, and its affiliates. As part of the settlement, General Steel, Jeffrey Knight, Bruce Graham, Jordan Blum and Jeffrey Donelson are permanently enjoined from engaging in any deceptive trade practices or actions contrary to the Colorado Consumer Protection Act. In addition, General Steel will pay $4.5 million to affected consumers and to the associated state agencies involved in the agreement.
The amended complaint, filed in 2004, alleged General Steel and its affiliates knowingly made false or misleading statements concerning the price of the steel buildings they sell. Additionally, salespeople led consumers to believe they needed only to sign a purchase order and submit a deposit to secure or “claim” their building. Consumers who signed the purchase order and submitted deposits were actually signing a contract with terms of which many consumers were unaware of or contradicted oral contract terms.
If you believe you may have been affected by General Steel or its affiliates, you can file a complaint at www.coloradoattorneygeneral.gov/complaint.