Dow Chemicals settles class-action lawsuit for $835 million

Mar 04, 2016, 20:56
Dow Chemicals settles class-action lawsuit for $835 million

Scalia, one of the court's most conservative members, had voted to scale back the reach of such group suits.

A new Supreme Court justice may not be confirmed until the spring or summer of 2017, because Senate Majority Leader Mitch McConnell (R-Kentucky) is blocking any chance of hearings for President Barack Obama's appointments to the position, meaning the upcoming presidential election may determine who leads the effort to replace Scalia.

The case started in 2005 with allegations that Dow plotted with BASF SE, Huntsman International LLC and Lyondell Chemical Co.in violation of federal law. According to Bloomberg, it was the death of Scalia.

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Dow, which is in the process of merging with Dupont, said on Friday it chose to settle, without admitting any wrongdoing, because of "growing political uncertainties due to recent events within the Supreme Court".

Dow was the only defendant not to settle and was found liable in February 2013 by a federal jury in Kansas for $400 million in damages.

Scalia was a strong supporter of limiting class action lawsuits against companies. Conservatives have argued that a newly elected president should appoint the next justice.

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The antitrust case is In re Urethane Antitrust Litigation, 04-md-01616, U.S. District Court, District of Kansas (Kansas City).

Ms. Schikorra said the potential benefits for Dow of continuing the petition looked less attractive amid the possibility of a 4-4 decision. The reason? After the death of Supreme Court justice Antonin Scalia earlier this month, Dow didn't like its odds so much anymore.

The court is preparing to rule in the Tyson Foods case, with the possibility Justice Anthony Kennedy could guide the outcome on more narrow grounds involving labor law, rather than on class-action principles.

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A jury hit Dow with a $1.1 billion judgment in a price fixing case, and the company was appealing the verdict all the way to the Supreme Court. "We thought it best for the company and the stakeholders to settle this and move on". Another attorney representing the plaintiffs, Roger N. Walter, said he hadn't yet heard of a settlement, and several other attorneys representing plaintiffs in the suit weren't immediately available for comment.

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