Packaging Corp of America discloses DOJ antitrust grand jury subpoena
Packaging Corporation of America disclosed in its quarterly SEC filing that it received a federal grand jury subpoena in late September from the US Department of Justice's Antitrust Division, seeking documents about its business. The company says it is cooperating fully and gave no detail on the scope; the filing does not say whether the probe is linked to a civil class action accusing PCA and seven other US and Canadian containerboard producers of inflating prices, which a federal judge allowed to proceed on 4 September. PCA denies the civil allegations and says it will defend itself.
Why this mattersA Justice Department grand jury inquiry adds federal scrutiny to a containerboard market already facing price-fixing litigation, though no wrongdoing or link to the civil case has been established.
- PCA received a federal grand jury subpoena from the DOJ Antitrust Division in late September 2026, disclosed in its quarterly SEC report on 5 November
- The subpoena seeks documents related to PCA's business; the company says it is cooperating fully
- A proposed class action filed in July 2025 in Illinois federal court alleges PCA and seven other producers inflated containerboard prices from November 2020
- A federal judge denied the defendants' joint motion to dismiss on 4 September, allowing the case to proceed
- Plaintiffs seek triple damages; PCA denies the allegations and says it cannot estimate potential losses
- PCA reported Q3 revenue of USD 2.6bn, up 12.5%, and net income of USD 262.3m, up 15.6%