Washington, DC — Dow Chemical has reached a settlement in the Urethanes Class Action litigation for $835m in the face of a changing US Supreme Court. The case was originally brought by a number of customers which claimed Dow fixed the price of polyether polyols.
Dow said the agreement depends on the Supreme Court agreeing to postpone an action Dow brought asking it to look at the decision taken by the District Court in Kansas to fine Dow $1.1bn. It also depends on the District Court in Kansas agreeing the settlement. The settlement will resolve that court's $1.1bn judgment, resolve post-judgment interest and an anticipated award of attorney’s fees against Dow entered in 2013, the company said.