“I think most corporations facing class actions regarded Justice Scalia as a friend”, Robert Peck, president of the Center for Constitutional Litigation in Washington, told The New York Times.
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Justice Stephen Breyer said Thursday the Supreme Court will be a “grayer place” without late Justice Antonin Scalia.
Growing political uncertainties due to recent events within the Supreme Court and increased likelihood for unfavorable outcomes for business involved in class action suits have changed Dow’s risk assessment of the situation.
In its petition to the Supreme Court, the company cited a 2011 class action involving Walmart and a 2013 case involving Comcast. Dow’s integrated, market-driven, industry-leading portfolio of specialty chemical, advanced materials, agrosciences and plastics businesses delivers a broad range of technology-based products and solutions to customers in approximately 180 countries and in high-growth sectors such as packaging, electronics, water, coatings and agriculture.
The court had not yet considered the case.
Nationally and in Wisconsin, Democrats say President Obama has a duty under the Constitution to name a replacement, while Senate Republicans say they will not even hold a hearing on a nominee until after the November election and the next president takes office in 2017.
That sum was tripled under antitrust law to US$1.2 billion, and then reduced to US$1.06 billion plus interest because of other settlements.
Jeffrey M. Harris, an attorney with Bancroft PLLC, one of the law firms representing the plaintiffs in the case, declined to comment on the settlement beyond what Dow had disclosed.
Dow Chemical Co’s docket number for its Supreme Court bid is No. 14A665.
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Dow added that it “continues to strongly believe that it was not part of any conspiracy and the judgment was fundamentally flawed as a matter of class action law”. It’s a reminder that the gridlocked politics surrounding the Supreme Court has real-world effects. With a total market value of more than $106 billion, according to Bloomberg, it is the largest merger in the industry’s history.
