A chemical company has pleaded guilty and agreed to pay $5 million for its role in a conspiracy to eliminate competition in the sale of chemicals used by water treatment plants and paper manufacturers. But it remains to be seen whether the settlement will create positive momentum for the three dozen civil suits filed against the company over its alleged price-fixing.
GEO Specialty Chemicals Inc. agreed to waive the statute of limitations as a defense to the charges, and has agreed to pay the $5 million fine in installments over a five-year period.
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