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US: Jury serves $400M fine for chemical price-fixing, avoids sought-after $1B

By  |  February 21, 2013
US: Jury serves $400M fine for chemical price-fixing, avoids sought-after $1B

In a continuation of a story recently reported by CPI, a jury has ordered Dow Chemicals to pay $400 million in a price-fixing case. The suit was initiated in a class action against several chemical companies – the plaintiffs were seeking more than $1 billion. Trial in Kansas City began last month over allegations Dow raised prices for a type of foam used in cars, packing and other products. In a statement the company said it was “disappointed’ over the jury’s conclusion; the company continues to deny the claims. According to reports, the jury did not find Dow guilty of price-fixing for all five years claimed by the plaintiffs.

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    Full Content: Reuters

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