One of four defendants in a long-running private U.S. antitrust litigation against Chinese vitamin C manufacturers agreed to a $10.5 million class action settlement on May 21.
William Isaacson of Boies, Schiller & Flexner, who is co-lead counsel for a class of direct purchaser plaintiffs and brought the first of the consolidated suits seven years ago, said the deal represents the first-ever settlement of U.S. civil antitrust claims by a Chinese company. Defendant Aland (Jiangshan) Nutraceutical Co., represented by Orrick, Herrington & Sutcliffe, agreed to pay $9.5 million to a class of direct vitamin C buyers and $1 million to an indirect purchaser class. (Aland was formerly known as Jiangsu Jiangshan Pharmaceutical Co.)
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