WILMINGTON, Del. (April 9)—DuPont Co. expects to take a $150 million charge against first-quarter earnings to cover anticipated liability related to antitrust investigations and price-fixing litigation directed at its DuPont Dow Elastomers L.L.C. joint venture with Dow Chemical Co.
At the same time, DuPont and Dow disclosed that DuPont will direct DuPont Dow's activities in response to the antitrust and price-fixing matters. DuPont Dow has been subpoenaed in connection with these investigations, the companies said.
DuPont and Dow said they concluded it is "in the best interests of all parties involved to consolidate control over directing DuPont Dow Elastomers' response to these investigations and the related litigation."
In addition to assuming control over these affairs, DuPont has agreed to fund 100 percent of any potential DuPont Dow liabilities and costs up to $150 million and 75 percent of liabilities and costs exceeding $150 million.