In re Foundry Resins Antitrust Litigation

Settled: March 28, 2009

As co-lead counsel in this case involving allegations of pricing fixing and other anticompetitive conduct, we obtained a settlement of $14.2 million total.

Labaton Sucharow served as co-lead counsel in this lawsuit filed on behalf of a class of Plaintiffs who purchased foundry resins directly from defendants, certain manufacturers of these products.

Plaintiffs alleged that, between January 1, 2002 and December 31, 2003, defendants illegally conspired to fix prices, rig bids and allocate customers in the market for foundry resins. The case was pending before the Honorable Gregory L. Frost in the Southern District of Ohio.

After plaintiffs' motion for class certification was granted and merits discovery was commenced, the parties entered into settlements totaling $14.2 million, approximately 90% of the damages estimated by plaintiffs' experts. The settlement was finally approved in March 2008.