Industrials

Will More Legal Settlements Be Blamed on or Attributed to Supreme Court Justice Scalia's Death?

Jon C. Ogg

Published: February 26, 2016 1:35 pm

Last Updated: January 13, 2020 12:39 pm

The death of a Supreme Court Justice causes problems on all sorts of levels. It has been known since the news broke that Justice Scalia’s death would create a political fight. It was also known that it could be a serious change for how corporate cases are treated in the review process at the U.S. Supreme Court. Well, according to Dow Chemical Co. (NYSE: DOW). it seems that Justice Scalia’s death is a serious issue.

It is impossible to know the real reason for a settlement in a legal battle. It could be one of several of dozens of potential reasons. That being said, Dow’s news of a legal settlement included the Supreme Court Justice’s death.

Dow announced on Friday that it has entered into a settlement agreement to resolve the “In re Urethanes Class Action litigation.” Dow has agreed to pay the plaintiff class a sum of $835 million, but the settlement agreement is conditioned on “the United States Supreme Court agreeing to hold Dow’s Petition for a Writ of Certiorari in abeyance and the subsequent approval of the class settlement by the United States District Court of Kansas.”

Dow said that the settlement will resolve the $1.06 billion judgment against Dow entered in 2013. Dow has a Petition for a Writ of Certiorari pending before the U.S. Supreme Court seeking to set aside the $1.06 billion judgment.

Dow’s Petition currently is being held by the Supreme Court pending a decision in Tyson Foods, a case with a common class action issue. Dow continues to believe strongly in its legal position as expressed in its petition.

24/7 Wall St.
CEOs Who Have to Go in 2016