Crompton Corp expects to settle civil antitrust suits with $97 million

Middlebury, Connecticut–Crompton Corp. has announced that it expects to settle direct purchaser class action lawsuits in rubber chemicals, EPDM and nitrile rubber for a total of $97 million. The company will establish a $93.1 million reserve in its 2004 financials.

“We believe this settlement represents a good resolution of a very difficult issue,” said Robert L. Wood, chairman, president and CEO of Crompton. “It allows us to reduce risks associated with prolonged litigation and potential treble damages. We also believe it is a fair resolution with…

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