Celanese Settles Polyester Antitrust MDL For $107M

Law360, New York (June 16, 2008, 12:00 AM EDT) -- Chemical manufacturer Celanese Corp. has agreed to pay $107 million to resolve multidistrict litigation in which it was accused of fixing the price of polyester staple fiber.

Twenty-two mass purchasers of the fiber — which is used to make carpet, textiles for clothing, home furnishings and other products — agreed to drop seven lawsuits, under the deal announced by Dallas-based Celanese late Friday. Terms of the deal were not disclosed.

The case was settled just prior to a trial that was scheduled to begin on June...
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