BASF Stock in Focus
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BASF SE, the German chemical giant, has agreed to pay a multi-billion dollar settlement in a long-standing legal case. The company's stock has been under pressure in recent months, trading 444% below its 52-week high.
The settlement resolves a series of lawsuits related to the company's alleged involvement in a price-fixing scheme. The total amount BASF will pay under the settlement is 3,125 million euros.
The news of the settlement comes as BASF faces other challenges, including the ongoing trade war between the United States and China and a slowdown in the global economy. The company is expected to release its third-quarter financial results next week.
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