Hexion, Huntsman Investors Reach $18M Settlement

Law360, New York (December 10, 2009, 12:53 PM EST) -- 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...
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