Judge grants final approval to the BASF settlement in Urethane Antitrust MDL
December 12, 2011
On December 12, 2011, Judge John W. Lungstrum of the U.S. District Court for the District of Kansas granted final approval to a $51 million settlement agreement with BASF in In re Urethane Antitrust Litigation.
The $51 million BASF settlement will increase the total value of cash settlements in this case to over $139 million. In June 2011, Huntsman International LLC agreed to pay $33 million to settle claims from direct purchasers in this multidistrict urethane antitrust litigation, while bankrupt Lyondell Chemical Co. likewise reached a deal to exit the long-running case. Final approval to the Huntsman and Lyondell settlements was granted on September 27, 2011. In 2006, Bayer settled for $55.3 million.
The settlement with BASF leaves Dow Chemical Co. as the sole remaining defendant in the case.