Settlement of MMA & Acrylic Cartel Litigation

In In re: Methyl Methacrylate (MMA) Antitrust Litigation, plaintiffs filed a motion with the Eastern District of Pennsylvania Court seeking approval of four separate settlement agreements totalling $15.1 million to settle a long-running class action against four chemical companies.  The suit sought damages and injunctive relief against the defendants for an alleged conspiacy to jack up the prices of MMA and acrylic in the U.S.  Under the settlement agreement, direct purchasers of MMA and acrylic would be able to reclaim some or all of the money paid for purchases made from January 1, 1995 to December 19, 2007.  Despite entering into the settlement, defendant Arkema denied any involvement in the price-fixing scheme.  If the settlement is approved, the money will go into escrow and purchasers will be able to recover between 4% and 100%  of their purchase costs, depending on which chemical they bought and when.

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