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Dow settles price-fixing case

Friday, February 26, 2016 - 00:50

Dow Chemical agrees to pay $835 million to settle a decade-long lawsuit on price fixing. Fred Katayama reports.

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Dow Chemical is shelling out $835 million to settle a decade-long lawsuit on price fixing. The company says it has less chance of winning at the Supreme Court after the death of Justice Antonin Scalia. Three years ago, a federal jury in Kansas found the chemical maker liable. The class-action lawsuit alleged Dow had conspired to artificially inflate prices for polyurethane, a material used to make foams for insulation panels and seals, among other things. Dow argued before the Supreme Court that the judgment violated class action law, particularly with respect to two rulings authored by Justice Scalia. But now, with Scalia's death, the next justice could tilt the balance of the nation's highest court. Dow is in the process of merging with the world's fourth largest chemical company, Dupont.

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Dow settles price-fixing case

Friday, February 26, 2016 - 00:50