Judge NEWMAN concurs in part by a separate opinion.
JACOBS, Circuit Judge:
SKW Metals & Alloys, Inc. ("SKW") and its executive vice-president, Charles Zak, were convicted, after a jury trial in the United States District Court for the Western District of New York (Skretny, J.), of conspiracy to fix prices in the market for ferrosilicon, in violation of Section 1 of the Sherman Act, 15 U.S.C. § 1 (1990). SKW was fined $150,000; Zak was fined...
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