Overview Of The Proposed Settlement
In re Polyurethane Foam Antitrust Litigation, Case No. 1:10-md-02196-JZ
Two settlements have been preliminarily approved in a class action alleging price fixing by certain producers of flexible polyurethane foam or flexible polyurethane foam products (together, "Flexible Polyurethane Foam").
Plaintiffs allege that the Defendants conspired to fix, raise, stabilize, or maintain the prices of Flexible Polyurethane Foam. Plaintiffs allege that this price fixing conspiracy caused direct purchasers to pay more for Flexible Polyurethane Foam than they would have otherwise paid. The Vitafoam Settlement is between Plaintiffs and the Vitafoam Defendants only. The Domfoam Settlement is between Plaintiffs and the Domfoam Parties only. The settlements do not affect any of the remaining non-settling Defendants, against whom this case continues.
What Do The Settlements Provide?
The Vitafoam Settlement provides that the Vitafoam Defendants pay $5,000,000 to a fund to compensate Vitafoam Settlement Class Members and provide substantial and immediate cooperation with Plaintiffs. The Vitafoam Defendants have also agreed to make an additional payment of not less than $4,000,000 and up to a maximum of $10,000,000 when they resolve any claims they are currently pursuing as plaintiffs in In re Urethane Antitrust Litigation, 04-md-1616 (JWL) (D.Kan.).
The Domfoam Settlement provides that in exchange for the voluntary dismissal without prejudice of all claims against the bankrupt Corporate Domfoam Defendants and the release of other parties, the Domfoam Parties agree to significant and meaningful cooperation with Plaintiffs in this case.
If you purchased flexible polyurethane foam or flexible polyurethane foam products in the United States directly from a Defendant or Co-conspirator from January 1, 1999 through August 2010, you are a potential Class Member and could get a settlement payment. Details of the proposed settlements and identities of the settling and non-settling Defendants and Co-conspirators are available in the Class Notice.
What Are My Options?
- SUBMIT A CLAIM FORM - To qualify for a payment under the Vitafoam Settlement, you must have submitted a claim form so that it was received or postmarked no later than April 30, 2013.
- EXCLUDE YOURSELF FROM THE SETTLEMENT(S) - If you wanted to exclude yourself from the proposed Vitafoam and/or Domfoam Settlement Class(es), you must have submitted a written request requesting exclusion and specifying the Settlement(s) from which you wished to be excluded. The request must have been postmarked no later than April 30, 2013. If you properly excluded yourself, you will not be bound by the specific Settlement(s), but you will not be eligible to participate in the potential benefits.
- OBJECT TO THE SETTLEMENT(S) - If you are a potential Vitafoam or Domfoam Settlement Class Member, you could have objected to or otherwise commented on any term of the Vitafoam or Domfoam Settlement(s) or Vitafoam or Domfoam Settlement Class(es) by sending a written objection explaining the precise reason or reasons for the objection(s). To be timely, your objection(s) must have been mailed to the Court, Counsel for Plaintiffs, Counsel for the Vitafoam Defendants, and Counsel for the Domfoam Parties, postmarked no later than April 30, 2013.
Please consult the Notice for more details on your options.
Fairness Hearing
The Court held a "Fairness Hearing" at 10:00 a.m. on May 7, 2013, at United States District Court, James M. Ashley and Thomas W. L. Ashley U.S. Courthouse, 1716 Spielbusch Avenue, Toledo, OH 43604. The purpose of the Fairness Hearing was to determine whether the Vitafoam Settlement and Domfoam Settlement are fair, reasonable, and adequate, whether the Court should approve the Vitafoam and Domfoam settlement classes, and whether the Court should enter judgment granting final approval of them.
