Potash Class Action Settlement
By Mike Holter
A group of 11 potash suppliers have agreed to pay a combined $20.25 million class action lawsuit settlement to resolve allegations they conspired to restrict the supply of potash – a mineral or chemical salt used mainly in fertilizer — and to raise and fix its price. If you purchased potash from one or more of the defendants between 2003 and 2012, you may be able to claim a cash payment from the class action settlement.
The potash settlement will resolve multiple antitrust lawsuits consolidated as one class action (referred to as either In re Potash Antitrust Litigation II or Minn-Chem Inc., et al. v. Agrium Inc., et al.) that accuse certain potash suppliers in Canada, the United States, Russia and Belarus of violating state and federal laws by establishing a global cartel that set artificially high prices for – and restricted the supply of – potash.
The Defendants deny the allegations but have agreed to a combined $20.25 million class action lawsuit settlement to resolve the litigation.
Class Members of the potash settlement include any person or entity (excluding government entities) that purchased potash in the United States indirectly for end-use and not for resale from one or more of the following defendants between July 1, 2003 and January 30, 2013:
Agrium U.S., Inc.
The Mosaic Company (n/k/a MOS Holdings Inc.)
Mosaic Crop Nutrition, LLC
BPC Chicago L.L.C.
JSC Belarusian Potash Company
JSC International Potash Company
Potash Corporation of Saskatchewan Inc.
PCS Sales (USA), Inc.
Potash is used by famers, gardeners and anyone who uses fertilizer for root production. Potash-based products are also used to melt ice or snow, as water-softeners, and for other uses.
The amount of money you can receive from the potash class action settlement will vary depending on the state you live in, but could be equal to 45% or 35% of the dollar amount you paid for potash products.
A detailed description of the settlement payout can be found at the end of the Potash Settlement Notice, located at www.PotashIndirectSettlement.com.
The only way to receive a payment if the court approves the settlement is to submit a valid Proof of Claim by September 2, 2013.
A Final Approval Hearing is scheduled for June 12, 2013.
Claim Forms and more information on your rights in the Potash Price-Fixing Class Action Lawsuit Settlement can be found at www.PotashIndirectSettlement.com.
Updated April 16th, 2013
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