Goldman, BASF, others in $20 million platinum, palladium price-fixing settlement
NEW YORK - Goldman Sachs, German industrial company BASF and two other banks agreed to pay $20 million to settle a nearly decade-old antitrust lawsuit accusing them of conspiring to suppress platinum and palladium prices.
Platinum and palladium are used in catalytic converters to curb vehicle emissions, and also in dentistry and jewelry. Lawyers for the purchasers called the settlement an"excellent" result that was fair, reasonable and adequate.
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