From the Missoulian: "W.R. Grace & Co. has agreed to pay up to $140 million to settle a class-action lawsuit stemming from its use of an attic-insulating product that contained asbestos.
"The specialty chemicals maker company will pay $30 million cash into a trust fund, an additional $30 million cash after three years, and make up to 10 additional annual payments of $8 million if certain conditions are met, it said in a filing with the Securities and Exchange Commission."
The Securities and Exchange Commission listing for W.R. Grace & Co. includes numerous filings, including the November 24, 2008, Form 8-K - Current report. This filing includes the Form 8-K and the Term Sheet for Resolution of U.S. Zonolite Attic Insulation Claims.
Source: Scheyder, E., AP (3 Dec. 2008). "W.R. Grace to settle suit for $140M." Missoulian. A6.
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