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US: Chemical co stands its ground, faces trebeled damages of more than $3B in price-fixing case

By  |  January 17, 2013
US: Chemical co stands its ground, faces trebeled damages of more than $3B in price-fixing case

Dow Chemical Co has vowed to defend itself against price-fixing allegations in court where plaintiffs of the case have estimated damages to be more than $1 billion. If found guilty, antitrust law orderes trebeled damage – potentially resulting in more than $3 billion. Dow is accused to fixing chemical prices for various foam products that are used in everyday items like cars and furniture. But Dow is not the only defendant named in the class action suit that began almost a decade ago. Dow is, however, the only defendant not to settle in the case that will officially go to trial in Kansas. Plaintiffs argue that the companies fixed prices from 1999 into 2003. Plaintiffs have plans to call at least five witnesses to testify against Dow; Dow denies the allegations.

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    Full Content: Reuters Canada

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