Citigroup, MeadWestvaco Settle $12.6M Site Cleanup Suit

Law360, New York (June 5, 2012, 5:28 PM EDT) -- Citigroup Inc. and MeadWestvaco Corp. on Monday together reached a settlement with a pair of companies suing for a contribution toward $12.6 million in cleanup expenses at a Superfund site in Tennessee, agreeing to pay an undisclosed sum to cover a portion.

The settlement agreement, which still needs to be approved by a Tennessee federal judge, covers only two of the defendants in the third-party Comprehensive Environmental Response, Compensation, and Liability Act suit, with Union Carbide Corp. failing to come to terms with plaintiffs Commercial Development...
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