Hexion, Huntsman Investors Reach $18M Settlement

Law360, New York (December 10, 2009, 12:53 PM ET) -- Hexion Specialty Chemicals Inc. has reached an $18 million settlement with a class of investors who say the company and its executives hid Hexion's efforts to stop a merger with Huntsman Corp., causing the company's stock price to become artificially inflated.

The investors, led by a shareholder in Huntsman, filed a motion seeking preliminary approval of the settlement Wednesday in the U.S. District Court for the Southern District of New York.

Sandra Lifschitz filed the lawsuit in July 2008, claiming that Hexion, which is owned by...
To view the full article, take a free trial now.
Try Law360 for free for seven days
Already a subscriber? Click here to login

Already have access?

  1. Forgot your password?
  2. Sign In

Get instant access to the one-stop news source for business lawyers

Required