Boston, Massachusetts -Â Purchasers of carbon black in the United States are advised that the two outstanding defendants - Cabot Corp and Columbian Chemicals Co. -Â have agreed a joint settlement amounting to $16 million with claimants. The allegations are that the defendants conspired to fix prices and allocate carbon black in the United States in violation of the Sherman Act Â§ 1. Cabot has previously said it has allowed $10 million to cover its liabilities in connection with this case.
A trial was due to take place on July 23, but the two outstanding defendants settled out of court on 14 June, in order to end the time and effort being expended on defending themselves. Degussa and its related companies previously settled with claimants for $4 million.
All three defendants "deny any wrongdoing whatsoever and strongly believe that they have good defenses to plaintiffs' claims," according to the official notice from the Massachusetts court.
The settlement defines alleged co-conspirators as Sid Richardson Carbon Co., Continental Carbon Company (formerly a division of Witco Corporation), and Engineered Carbons, Inc. (formerly J.M. Huber Corporation).
If the latest offer is accepted, as seems likely, the case wil be closed and, according to the Court notice, "The settlements, less whatever the Court awards for reimbursement of expenses, payment of attorneys' fees, and incentive awards to class representatives, will be distributed to pay the claims of direct purchasers of carbon black in the United States during the period January 30, 1999 through January 18, 2005."
Those who bought carbon black in the United States during the period January 30, 1999 through January 18, 2005 directly from one or more of the defendant companies (or alleged co-conspirators) are urged to contact one of the law firms linked below.
This is an external link and should open in a new window. If the window does not appear, please check your pop-up blocking software. ERJ is not responsible for the content of external sites.
website of BERGER & MONTAGUE
website of COHEN MILSTEIN HAUSFELD
& TOLL, P.L.L.C.
website of GOLD BENNETT CERA
& SIDENER, LLP
website of Lerach Coughlin Stoia Geller
Rudman & Robbins LLP