Clariant (CLZNY) announced that on Thursday, January 9, the company was served with a claim for damages against four companies, including Clariant, from BASF (BASFY) with the court of Munich, Germany. “The claim alleges damages amounting to EUR 1.4 billion in relation to infringements of competition law on the ethylene purchasing market which was sanctioned by the European Commission in July 2020. Clariant firmly rejects the allegation and will adamantly defend its position in the proceedings. Clariant has substantiated economic evidence that the conduct of the parties did not produce any effect on the market,” Clariant stated.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks straight to you inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BASFY:
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue