Solvay Decries $23M Deal For Bleach Cartel Cohort

Law360, New York (January 22, 2008, 12:00 AM EST) -- Over the objections of co-defendant Solvay, a judge has given preliminary approval to a $23.38 million settlement agreement between the plaintiffs and Akzo Nobel Chemicals International in the multidistrict litigation over an alleged hydrogen peroxide price-fixing cartel.

Judge Stewart Dalzell of the U.S. District Court for the Eastern District of Pennsylvania gave the green light Thursday to the deal between the direct purchasers and Akzo Nobel Chemicals International B.V. and its Eka Chemicals Inc. and Akzo Nobel Inc. units.

The settlement amount equals about 11.4% of...
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