Chevron To Pay $48M In Calif. Unocal Patent Suit

Law360, New York (August 11, 2008, 12:00 AM EDT) -- Chevron Corp. is set to fork over $48 million in a bid to bury the hatchet with California consumers in a class action alleging that its subsidiary Unocal Corp. abused patents to gain an illegal monopoly over a state-mandated formula for less-polluting gas.

The preliminary settlement, which was brokered in July, was slated to be reviewed by Judge Christina A. Snyder of the U.S. District Court for the Central District of California at an approval hearing on Monday, according to court documents.

Attorneys for Chevron and...
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.