A class of businesses that purchased ethylene proplylene diene monomer (EPDM) between 1997 and 2001 has reached agreement with two subsidiaries of Royal DSM to settle a long-running antitrust dispute before trial in return for a payment of $25 million.
The EPDM class action, pending in the U.S. District Court for the District of Connecticut, was vigorously litigated by both sides; the DSM defendants consistently denied any wrongdoing in connection with the allegations. In 2006, competition enforcement authorities in the EU, U.S. and Canada concluded their EPDM investigations without bringing any charges against DSM or any of its employees. The DSM defendants have now entered into the settlement to eliminate the burden, expense and risk of further litigation. The proposed class action settlement is subject to Court approval.
If approved, and following due notice to the class members, the class action will be dismissed with prejudice and all claims asserted in the class action against the DSM defendants will be released.
