“Dow Opts for $835m Price-Fix Deal After High Court Shakeup,” Law 360
February 26, 2016
Dow Chemical has agreed to enter a $835 million class settlement instead of continuing to seek U.S. Supreme Court review of a $1 billion judgment against it for price-fixing of urethanes, citing “political uncertainties” related to the eight-member high court.
Customers who bought polyurethane from Dow and other chemical companies won a $400 million jury verdict in their antitrust class action in 2013. Dow was the only company still fighting the case by the time the verdict was entered. The verdict was later trebled and adjusted to a $1.06 billion judgment against Dow, which was upheld by the Tenth Circuit.