Bayer’s Settlement of Pricing Claims Approved
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German-based Bayer won a judge’s approval of a $250-million settlement of civil claims that it colluded to fix U.S. rubber prices from 1995 to 2001.
U.S. District Court Judge Martin Jenkins in San Francisco said the accord with buyers of rubber chemicals was “fair, adequate and reasonable.”
Bayer was accused of colluding to fix prices of chemicals that are mixed with raw rubber to make finished rubber. Under the agreement, the plaintiffs will get more than 13% of the amount spent on the chemicals and Bayer will cooperate with them in claims against other suppliers.
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