HEERLEN, NETHERLANDS, Jun 15 (MARKET WIRE) —
A class of businesses that purchased ethylene proplylene diene monomer
(“EPDM”) between 1997 and 2001 has reached agreement with two
subsidiaries of Royal DSM N.V., the Life Sciences and Materials Sciences
company, to settle a long- running antitrust dispute before trial in
return for a payment of $25 million (USD).
The EPDM class action, pending in the United States 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 European
Union, the United States 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.
DSM – the Life Sciences and Materials Sciences Company
Royal DSM N.V. creates solutions that nourish, protect and improve
performance. Its end markets include human and animal nutrition and
health, personal care, pharmaceuticals, automotive, coatings and paint,
electrical and electronics, life protection and housing. DSM manages its
business with a focus on the triple bottom line of economic performance,
environmental quality and social responsibility, which it pursues
simultaneously and in parallel. DSM has annual net sales of about EUR 8
billion and employs some 22,700 people worldwide. The company is
headquartered in the Netherlands, with locations on five continents. DSM
is listed on Euronext Amsterdam. More information:
www.dsm.com
For more information:
DSM Corporate Communications DSM Investor Relations
Herman Betten Hans Vossen
tel. +31 (0) 45 5782017 tel. +31 (0) 45 5782864
fax +31 (0) 45 5740680 fax +31 (0) 10 4590275
e-mail media.relations@dsm.com e-mailinvestor.relations@dsm.com
[HUG#1423757]
Press release-pdf:
http://hugin.info/130663/R/1423757/372539.pdf
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