BASF To Exit Foam Price-Fixing MDL For $51M

Law360, New York (September 21, 2011, 8:58 PM EDT) -- A class of direct purchaser plaintiffs in a long-running multidistrict litigation accusing urethane foam makers of conspiring to fix prices asked a Kansas federal court Wednesday to approve their $51 million settlement with BASF Corp.

“Because merits discovery is nearly complete, the parties had virtually all relevant facts disclosed during discovery at their disposal in making settlement assessments and in crafting and finalizing the settlement,” attorneys for direct purchaser class representatives Seegott Holdings Inc., Quabaug Corp. and Industrial Polymers Inc. said in a memorandum.

The settlement...
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