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...
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