Dow Chem pays $835 millon -to settle antitrust case it decided it can't win-Now that Scalia is dead
Dow Chemical Co. said it agreed to pay $835 million to settle an antitrust case that was on appeal to the U.S. Supreme Court in the wake of Justice Antonin Scalia’s death earlier this month.
Dow, the largest U.S. chemical maker by sales, said Friday the accord will resolve its challenges to a $1.06 billion award to purchasers of compounds for urethanes, chemicals used to make foam upholstery for furniture and plastic walls in refrigerators.
The Midland, Michigan-based company disputed a jury’s finding it had conspired with four other chemical makers to fix urethane prices and asked the Supreme Court to take the class- action case on appeal. Scalia, one of the court’s most conservative members, had voted to scale back the reach of such group suits.
“Growing political uncertainties due to recent events with the Supreme Court and increased likelihood for unfavorable outcomes for business involved in class-action suits have changed Dow’s risk assessment of the situation,” the company said in an e-mailed statement.
https://bol.bna.com/scalias-death-prompts-dow-to-settle-suits-for-835-million/
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