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12/05/08 | Articles and TV
Kirby McInerney LLP Procures $48 Million Settlement in Unocal Antitrust Litigation
NEW YORK; December 5, 2008 - Judge Christina A. Snyder of the U.S. District Court for the Central District of California has granted final approval of a $48 million settlement in a class action suit brought against Union Oil Company of California (now a subsidiary of Chevron Corporation).
Kirby McInerney LLP is co-lead counsel in the action, acting on behalf of purchasers of reformulated gasoline (RFG) in California between January 1995 through August 11, 2005. Unocal had advocated a formulation for RFG standards while not disclosing that the company had patents pending on that formulation. After the California Air Resources Board had approved standards espoused by Unocal, the company publicly revealed its patent ownership and sued industry participants for patent infringement and charged refiners licensing fees, which served to increase the cost of RFG. Prior to Chevron's acquisition of Unocal, Chevron's CEO remarked that Unocal's behavior, “was one of the most unethical examples of business conduct that [he] had seen in [his] 40 years”.
The settlement money will be paid to one or more charitable organizations dedicated to improving air quality in California. It is intended that the money will be directed to programs that will focus on replacing high emissions vehicles and creating programs to improve air quality or fuel efficiency.
Kirby McInerney LLP is co-lead counsel in the action, acting on behalf of purchasers of reformulated gasoline (RFG) in California between January 1995 through August 11, 2005. Unocal had advocated a formulation for RFG standards while not disclosing that the company had patents pending on that formulation. After the California Air Resources Board had approved standards espoused by Unocal, the company publicly revealed its patent ownership and sued industry participants for patent infringement and charged refiners licensing fees, which served to increase the cost of RFG. Prior to Chevron's acquisition of Unocal, Chevron's CEO remarked that Unocal's behavior, “was one of the most unethical examples of business conduct that [he] had seen in [his] 40 years”.
The settlement money will be paid to one or more charitable organizations dedicated to improving air quality in California. It is intended that the money will be directed to programs that will focus on replacing high emissions vehicles and creating programs to improve air quality or fuel efficiency.
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