The Mosaic Company, based in Plymouth, has stated they agreed to settle potash antitrust litigation that has been pending in U.S. District Court in the Northern District of Illinois since 2008, according to a press release.
The company said Mosaic will pay $43.75 million to settle all claims with both putative classes.
Potash is a “powdery salt that contains potassium and is primarily used in fertilizers,” according to the Twin Cities Business Magazine.
“Mosaic chose to settle these claims to avoid the significant costs, burden, and distraction of protracted litigation,” according to the press release. “Mosaic did not admit any wrongdoing and will be released from any liability in connection with the plaintiffs' claims. The settlement is subject to final court approval.”
In the news
Mosaic, Other Potash Cos. Pay $98M to Settle Antitrust Suit (Twin Cities Business Magazien)