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Dow Chemical settles price-fixing case after Justice Scalia's death ( afraid they would lose now)
Dow Chemical Co (DOW.N) agreed to pay $835 million to settle a decade-long lawsuit on price fixing, saying it had less chance of winning its petition at the Supreme Court after the death of Justice Antonin Scalia.
Dow, which is in the process of merging with Dupont (DD.N), said on Friday it decided to settle, without admitting any wrongdoing, citing "growing political uncertainties due to recent events within the Supreme Court."
The chemicals company was found liable by a federal jury in Kansas in February 2013 in the class-action lawsuit, which alleged Dow had conspired to artificially inflate polyurethane prices.
http://www.reuters.com/article/us-usa-court-dow-idUSKCN0VZ1KK
Dow, which is in the process of merging with Dupont (DD.N), said on Friday it decided to settle, without admitting any wrongdoing, citing "growing political uncertainties due to recent events within the Supreme Court."
The chemicals company was found liable by a federal jury in Kansas in February 2013 in the class-action lawsuit, which alleged Dow had conspired to artificially inflate polyurethane prices.
So, DOW is admitting the court had a bias towards big business.........
