ACTIONS CORNER

BASF is being brought to court in the United States on charges of price fixing in metal trading. The charge sheet, deposited in the court of New York, alleges that the metal trading department of the biggest chemical company in the world conspired with Goldman Sachs, HSBC and South Africa’s Standard Bank over eight years to manipulate the prices of platinum and palladium. Florida-based Modern Settings complains that priced fixing cost buyers millions of dollars. The manufacturer of jewellery and police badges was one of the purchasers involved.

Seven years down the line, SAP has finally concluded its litigation with Oracle on illicit uploading of Oracle software. The tribunal ruling, published on November 13, states that the German software group pay approximately 359 million dollars (some 287 million Euros). The complaint involved Tomorrow Now, a former SAP subsidiary company that had procured the software from its American competitor by illegal means. The two companies have declared their satisfaction on the agreement reached.