Cabot Settles Class Action Lawsuits
Class Action News
Specialty chemicals maker Cabot Corp. said Wednesday it agreed to settle the federal class action lawsuits pending against it that alleged it and other carbon black manufacturers violated antitrust laws in setting prices for carbon black sold in the United States.
In a filing with the Securities and Exchange Commission, Cabot said its share of the settlement cost is $10 million. Cabot also denied any wrongdoing of any kind, and said it "strongly believes that it has good defenses to these claims."
The company said it agreed to the settlement to avoid further expense, inconvenience, risk and the distraction of protracted litigation.
The settlement agreement is subject to court approval.
Boston-based Cabot said it will continue to defend the remaining antitrust lawsuits pending against it. There are suits pending in several state courts brought by purported classes of purchasers of carbon black, and a single federal case brought by a party that did not join the federal class action.
Related listings
-
Federman & Sherwood Files Securities Class Action
Class Action News 06/08/2007[##_1L|1146049967.jpg|width="120" height="138" alt=""|_##]Thursday after the bell, Federman & Sherwood announced that On June 1, 2007, a class action lawsuit was filed in the United States District Court for the District of Nevada against Shuffle...
-
Court rules Wal-Mart class action can proceed
Class Action News 06/01/2007[##_1L|1268931702.jpg|width="131" height="91" alt=""|_##]WAL-MART Stores Inc, the world's largest retailer, must face a class-action lawsuit by New Jersey workers claiming the company forced them to work through breaks and cheated them of overtime pa...
-
Class Action Suit Planned Against Casey's
Class Action News 05/30/2007[##_1L|1119118476.jpg|width="130" height="90" alt=""|_##]Two former assistant managers at Casey's General Stores say the convenience store chain didn't pay them overtime wages. Kristina Jones and Kim Marrs say they plan to file a class action lawsuit...
New York Commercial Litigation Law Firm - Woods Lonergan PLLC
Founded in 1993 by Managing Partner James F. Woods, Woods Lonergan PLLC has built a strong reputation as a resourceful and industrious firm that provides clients with clear, concise, and straightforward answers to their most challenging legal issues. Partner Lawrence R. Lonergan, who joined the firm in 2008, has been a friend and colleague to Mr. Woods for over 40 years and shares the same business philosophy. Woods Lonergan PLLC’s collective experience and expertise enables the firm to expeditiously and effectively analyze the increasing challenges clients face in an evolving business and legal world, in many instances, avoiding unnecessary time and expense to our clients. Our mission is simple: provide cutting-edge expertise and sound advice in select areas of the law for corporate and business clients. We thrive on providing each client with personalized attention, forceful representation, and a collaborative team effort that embraces collective knowledge.