December 12, 2011
On December 12, 2011, Judge John W. Lungstrum of the U.S. District Court for the District of Kansas granted final approval to a $51 million settlement agreement with BASF in In re Urethane Antitrust Litigation.
The $51 million BASF settlement will increase the total value of cash settlements in this case to over $139 million. In June 2011, Huntsman International LLC agreed to pay $33 million to settle claims from direct purchasers in this multidistrict urethane antitrust litigation, while bankrupt Lyondell Chemical Co. likewise reached a deal to exit the long-running case. Final approval to the Huntsman and Lyondell settlements was granted on September 27, 2011. In 2006, Bayer settled for $55.3 million.
The settlement with BASF leaves Dow Chemical Co. as the sole remaining defendant in the case.
Final Approval Order – December 12, 2011 [PDF]