People & Business :: Earnings/Finance
Jury orders Dow to pay $400 million in urethanes price-fixing
10:14 AM MST | March 1, 2013 | —Clay Boswell
A federal jury has ordered Dow Chemical to pay $400 million to plaintiffs in a urethane chemicals price-fixing class-action lawsuit. Under federal antitrust law, the damages could be tripled to $1.2 billion if the verdict, issued on 20 February, is sustained. The plaintiffs, consumers of isocyanates and polyols used to manufacture polyurethanes, accused five companies of colluding in a price-fixing conspiracy from 1999 to 2003. Seegott Holdings Inc. (Streetsboro, OH), Quabaug Corp. (North Brookfield, MA) and Industrial Polymers Inc. (Houston, TX) are the...
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