The Joplin Globe, Joplin, MO

Business

May 16, 2013

Dow to appeal $1.2 billion damages order

KANSAS CITY, Kan. — A federal judge is ordering Dow Chemical Co. to pay $1.21 billion in damages after it lost a class-action lawsuit that accused it of conspiring to fix prices.

Dow says it will appeal.

The Feb. 20 jury verdict in federal court in Kansas City, Kan., was for Dow to pay $400 million in damages. The jury decided that Dow had participated in a price-fixing conspiracy for the chemical urethane, which is used in a wide variety of products.

Dow had asked the judge for a new trial, and also to force the plaintiffs to try their cases individually. Both requests were denied. The final order by judge John W. Lungstrum filed on Wednesday includes a tripling of the jury verdict, as called for by U.S. antitrust law.

 

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