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DSM announces settlement of Federal Class Antitrust Litigation

Published on 2010-06-15. Author : SpecialChem

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.

Source: DSM N.V.

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