Dow Chemical loses anti-trust lawsuit - WSFA.com: News Weather and Sports for Montgomery, AL.

Dow Chemical loses anti-trust lawsuit, ordered to pay $400 million

Posted: Updated:
KANSAS CITY, MO (AP) -

Dow Chemical is being forced to pay $400 million after losing an anti-trust lawsuit.

The suit claimed Dow conspired with other competitors to fix the price of urethane products. Those chemicals are used in the production of cars, furniture and packaging. 

But the ruling could have been worse, the plaintiffs were seeking more than $1 billion in damages.

Dow Chemical was the only defendant in a batch of similar cases to go to trial, instead of settling.

Dow Chemical continues to deny the allegations and is disappointed in the ruling.

Other companies in the lawsuit include Bayer AG, who settled in 2006 for $55 million, Huntsman International LLC, who agreed to pay $33 million in 2011 and BASF Corporation, who paid $51 million in 2011.

Copyright 2013 WNEM (Meredith Corporation). All rights reserved.

Powered by WorldNow