US court throws out class-action lawsuit against potash companies

23 September 2011 19:38  [Source: ICIS news]

HOUSTON (ICIS)--The US 7th Circuit Court of Appeals dismissed on Friday a class-action lawsuit that accused several producers of fixing potash prices.

Potash buyers alleged that seven companies from the US, Canada, Russia and Belarus worked together to increase prices in China, India and Brazil, which influenced prices in the US.

However, the court decided that there was not enough evidence to link overseas price hikes to increases in the US under the Sherman Antitrust Act.

The producers in the case include Canada’s Agrium, PotashCorp, US Mosaic, Russia’s Uralkali and Silvinit, Belarusian Potash and International Potash.

For more on Agrium, Potash Corp or Mosaic visit ICIS company intelligence

By: Bobbie Clark
+1 713 525 2653

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