Invista Waits On Approval Of $33M Class Action Deal

Law360, New York (May 27, 2008, 12:00 AM EDT) -- After almost six years of litigation and two fruitless attempts at mediation, Invista S.ar.l. and a class of plaintiffs who alleged a nationwide conspiracy to fix prices for polyester staple fiber are waiting for a judge to approve a $33 million settlement agreement next month.

Though some individual suits will remain pending in the consolidated litigation, the class action suit against Invista (formerly known as KoSa ltd.) will be put to bed if U.S. District Judge Richard Voorhees signs off on the proposed deal on June...
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.