DSM announces settlement of Federal Class Antitrust Litigation
(Thomson Reuters ONE) -
A class of businesses that purchased ethylene proplylene diene monomer ("EPDM")
between 1997 and 2001 has reached agreement with two subsidiaries of Royal DSM
N.V., the Life Sciences and Materials Sciences company, to settle a long-running
antitrust dispute before trial in return for a payment of $25 million (USD).
The EPDM class action, pending in the United States District Court for the
District of Connecticut, was vigorously litigated by both sides; the DSM
defendants consistently denied any wrongdoing in connection with the
allegations. In 2006, competition enforcement authorities in the European Union,
the United States and Canada concluded their EPDM investigations without
bringing any charges against DSM or any of its employees. The DSM Defendants
have now entered into the settlement to eliminate the burden, expense and risk
of further litigation. The proposed class action settlement is subject to Court
approval. If approved, and following due notice to the class members, the class
action will be dismissed with prejudice and all claims asserted in the class
action against the DSM Defendants will be released.
DSM - the Life Sciences and Materials Sciences Company
Royal DSM N.V. creates solutions that nourish, protect and improve performance.
Its end markets include human and animal nutrition and health, personal care,
pharmaceuticals, automotive, coatings and paint, electrical and electronics,
life protection and housing. DSM manages its business with a focus on the triple
bottom line of economic performance, environmental quality and social
responsibility, which it pursues simultaneously and in parallel. DSM has annual
net sales of about ? 8 billion and employs some 22,700 people worldwide. The
company is headquartered in the Netherlands, with locations on five continents.
DSM is listed on Euronext Amsterdam. More information: www.dsm.com
For more information:
DSM Corporate Communications DSM Investor Relations
Herman Betten Hans Vossen
tel. +31 (0) 45 5782017 tel. +31 (0) 45 5782864
fax +31 (0) 45 5740680 fax +31 (0) 10 4590275
e-mail media.relations(at)dsm.com e-mailinvestor.relations(at)dsm.
[HUG#1423757]
Press release-pdf: http://hugin.info/130663/R/1423757/372539.pdf
Unternehmensinformation / Kurzprofil:
Datum: 15.06.2010 - 08:15 Uhr
Sprache: Deutsch
News-ID 22419
Anzahl Zeichen: 0
contact information:
Town:
Heerlen
Kategorie:
Business News
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