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Kaneka Pays $5.9M To Settle Plastic Additives Case

Law360 (July 3, 2007, 12:00 AM EDT) -- Kaneka Texas Corp., one of many plastic additives makers targeted in a class action antitrust suit by a large group of plastic companies, has agreed to pay $5.9 million to settle with the plaintiffs.

The agreement, which the parties worked out at the end of March, was approved on Friday by a judge in the U.S. District Court for the Eastern District of Pennsylvania, who deemed it “sufficiently fair, reasonable, and adequate." In addition to its cash payment, Kaneka has agreed to cooperate in prosecuting the...
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