Feb 1 2007
Chemtura Corporation announced that it has resolved the federal class action litigation involving EPDM. Chemtura entered into an agreement with class counsel in the federal EPDM case on Jan. 22, 2007 to pay $21 million to resolve the class claims.
"We are continuing to put legacy issues behind us, while continuing to focus on building a portfolio of high-performance businesses for sustainable growth and improved earnings," said Robert Wood, chairman and chief executive officer.
The $21 million settlement, which is subject to court approval, was paid in the first quarter and will be reflected in the fourth quarter 2006 financials.