TOLEDO, Ohio—Polyurethane foam makers Carpenter has agreed to pay $108 million to settle a class action dispute.
The settlement agreement is in exchange for the direct purchaser class's dismissal of Carpenter defendants—namely Carpenter Co., Carpenter L.P. and Carpenter Holdings—with prejudice as well as the release of all claims against Carpenter defendants.
Co-accused Leggett & Platt, Vitafoam, Domfoam International and Valle Foam Products have all settled their parts in the class action.
The non-settling defendants are: FFP Holdings, FXI—Foamex innovations, Future Foam, Hickory Springs Manufacturing Company and Mohawk Industries, various Woodbridge companies as well as Louis and David Carson. This group of companies will continue to face the class action suit, which was initiated by Adams Foam Rubber Company, Cambridge of California, Foam Factory, GCW Carpet Wholesalers, J&S Packaging and VFP Acquisitions.
Carpenter has already made a $20m payment towards the final settlement figure. The remaining $88m would have to be paid within 10 days of the settlement's final approval by the court.
The period in which the class action claimed that anti-competitive practices took place was January 1, 1999, to July 31, 2010.
Carpenter's class action settlement was announced three months after furniture components producer Leggett & Platt reached a nearly $40m deal to resolve similar allegations. Two years earlier, Vitafoam Inc and Vitafoam Products Canada agreed to pay up to $15 million to settle the foam price-fixing class action lawsuit.
Judge Jack Zouhary presided over the northern court district hearings.