Judge OKs Innospec's $45M Deal To End Antitrust Suits
By Hilary Russ (September 22, 2011, 8:10 PM EDT) -- A Virginia federal judge on Thursday dismissed NewMarket Corp.'s antitrust lawsuits accusing rival fuel additive company Innospec Inc. of bribing Iraqi and Indonesian officials after Innospec agreed to pay $45 million to end the litigation.
U.S. District Judge Henry E. Hudson ordered the consolidated cases dismissed with prejudice following a settlement the companies reached Sept. 13, according to his order and to filings with the U.S. Securities and Exchange Commission.
Under the terms of the agreement, Innospec was to pay NewMarket $25 million in cash by Sept. 20, with an additional $15 million payable in three equal annual installments under a...
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