Sealed Air Settles With Investors For $20M

Law360, New York (December 8, 2009, 8:08 PM EST) -- A federal judge has approved a $20 million settlement agreement in a securities class action involving W.R. Grace & Co.'s acquisition of Sealed Air Corp.

U.S. District Judge Dennis Cavanaugh of the District of New Jersey on Friday approved the settlement between Sealed Air and investors led by the Louisiana Municipal Police Employees Retirement System.

T.J. Dermot Dunphy, the founder and CEO of Sealed Air, also was named as a defendant in the suit.

Two members of the class opted out of the settlement, which Judge...
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