Deals Reached In Magnetic Tape Price-Fixing Suit

Law360, New York (July 9, 2008, 12:00 AM EDT) -- Two Japanese chemical companies have reached a settlement in an antitrust class action against makers of a chemical used to magnetize tapes for recording.

Titan Kogyo K.K. and its American subsidiaries will pay members of the class $800,000, and Toda Kogyo Corp. will pay $2 million.

The payments will settle a lawsuit that alleged the two were part of a scheme to “fix, maintain, and stabilize the prices and to allocate the worldwide markets for magnetic iron oxide,” according to a motion filed in United States...
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