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One of four Chinese companies seeks to settle vitamin C case for $10.5m

 |  May 22, 2012

One of the four defendant Chinese companies has filed a proposed settlement in U.S. District Court in Brooklyn to resolve In re: Vitamin C Antitrust Litigation. The lawsuit, brought by commercial buyers of vitamin C, alleges that the companies formed a cartel to raise prices by limiting exports. The settlement calls for Aland Nutraceutical Co. (formerly Jiangsu Jiangshuan) to pay $9.5 million to direct purchasers, and $1 million to indirect purchasers.

Judge Brian Cogan had rejected the companies’ defense that the Chinese government required price coordination in September.

Full content: Reuters


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