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Dow appeals polyurethane cartel fine and verdict

By: URETHANES TECHNOLOGY INTERNATIONAL

March 7, 2013

KANSAS CITY, KAN. — Dow Chemical Co. has clarified the basis of its disagreement with the verdict passed by U.S. District Court in Kansas City over a fine of $400 million for its role in fixing prices in polyurethane precursors.

In a filing on March 5, Dow asked the trial judge to rule on the jury verdict reached two weeks ago.

The filing says: “We strongly believe the jury rejected the sole conspiracy that the plaintiffs put before the jury, and we therefore have asked the Court to enter a verdict in Dow’s favor as a matter of law or, alternatively, order a new trial. Dow also has filed a supplement to its earlier motion to decertify the class, since the jury, by its verdict, rejected the class-wide claim. Dow has always denied plaintiffs’ allegations of price fixing.”

It continues: “This same matter was thoroughly investigated by the U.S. Department of Justice from 2005 through 2007. Dow fully cooperated with the DOJ, and the DOJ closed the investigation in December 2007 without bringing charges against any person or entity. Consistent with the outcome in this earlier DOJ investigation, Dow should not be held liable in the civil case and will pursue this matter to a successful conclusion.”