INDIANAPOLIS -- Kraft Foods Inc. will pay $8.1 million to settle a class-action lawsuit over pollution at a former factory in Attica, Ind.
The lawsuit, filed in 2009 and representing nearly 130 families, claimed pollution from a former Kraft factory contaminated the groundwater beneath their homes and spread cancer-causing vapors.
A U.S. District Court judge in Indianapolis approved the settlement Friday.
In addition to the payment to the families, Kraft is required to clean up the plant site and groundwater and install mitigation systems in the affected homes. The cost of that effort was not disclosed.
Kraft said it was pleased with the outcome. While the company said it did not contribute to the conditions, it is committed to the cleanup. The company said it is working closely with local, state and federal organizations to clean up the site.
Kraft has said it did not own the plant when the chemicals were being used.
“It’s a great day for these families,” said Norm Berger, an attorney for the families from the law firm Varga Berger Ledsky Hayes & Casey. “It is much-needed relief for them ... and Kraft’s commitment to make sure the problem is completely resolved is the responsible thing to do.”
Kraft Foods shares fell 16 cents to $35.07 in after-hours trading.
Skype cancels IPO after Microsoft deal
SAN FRANCISCO -- Internet calling service Skype has cancelled its IPO now that it’s agreed to be sold to Microsoft for $8.5 billion.
Skype served notice that it was withdrawing its initial public offering of stock in a Friday filing with regulators.
The IPO became moot last week after Skype accepted Microsoft’s takeover offer. Skype, currently owned by investment funds and eBay, had filed its plans to go public last August.
Microsoft Corp. hopes to complete the Skype purchase by year-end. It will be the most expensive acquisition in Microsoft’s 36-year history.
About 170 million people use Skype.
BP gets $1B settlement from Gulf well partner
LONDON -- BP has struck a deal to receive around $1 billion from one of its minority partners in the blown-out Gulf of Mexico well, raising hopes it will successfully pursue other companies involved and reduce its bill for the disaster.
BP PLC said Thursday that MOEX Offshore 2007 LLC, which had a 10 percent interest in the Macondo well, has agreed to pay $1.065 billion to settle all claims between the companies over the accident on the Deepwater Horizon rig.
-- Herald wire reports
