PITTSBURGH (April 4) — Bayer A.G. and its subsidiaries Bayer Corp. and Bayer MaterialScience L.L.C. have proposed a $9.8 million settlement for pending litigation alleging price-fixing conspiracy in acrylonitrile-butadiene rubber.
A hearing on the proposed settlement has been set for June 1 before the U.S. District Court for the Western District of Pennsylvania. Bayer pleaded guilty in October 2004 to one court of conspiracy and was fined $4.7 million.
Several other corporate defendants in the price fixing case — Crompton Corp., DESC S.A. de C.V., ParaTec Elastomers L.L.C. and Zeon Chemicals Inc. — have already settled in the litigation to the combined tune of $24.5 million.