Freeport-McMoRan Settles Carbon Black Antitrust Suit

Law360, New York (August 10, 2007, 12:00 AM EDT) -- Freeport-McMoRan Copper & Gold Inc. on Thursday became the latest company to settle a 2003 price-fixing suit over carbon black stock, after entering into an agreement for a $6 million payment.

The company revealed in its most recent SEC filing that the $6 million had been recorded as a liability. The settlement is still subject to approval by the U.S. District Court for the District of Massachusetts following a Sept. 27 hearing.

Carbon black is an engineered compound made by partially combusting petroleum or natural gas....
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