WEST LONG BRANCH, N.J. (Dec. 21, 2007) — Foamex International Inc. has settled a breach of contract lawsuit filed by Sleep Innovations Inc. at the U.S. District Court in Pennsylvania.
According to a Dec. 19 statement, Sleep Innovationns will pay Foamex $12 million for goods it has received from the foam maker. The bedding firm had withheld payment pending the outcome of the litigation. Other terms of the agreement were not disclosed.
The two companies have also terminated their supply agreement.
Sleep Innovations is a manufacturer and marketer of memory foam sleep products, including pillows, mattress toppers and mattresses.