Firm loses its appeal against damages for fixing polyurethane prices
A US court has upheld a jury’s award of over $1 billion (£654 million) in damages to customers of Dow Chemical’s polyurethane constituents and materials business. Dow had appealed the award, but the court decided it should stand.
The case relates to allegations that Dow conspired with Bayer, BASF, Huntsman and Lyondell to fix prices for polyurethanes between 1999 and 2003. All the other companies involved have settled claims against them, but Dow proceeded through the courts and lost. The company has now lost its appeal, but has the option to appeal to higher courts.