Sherwin-Williams, NL Industries, Conagra Unit Settle Paint-Ad Lawsuit
July 17 2019 - 1:57PM
Dow Jones News
By Josh Beckerman
Sherwin-Williams Co. (SHW), NL Industries Inc. (NL) and a
Conagra Brands Inc. (CAG) unit have settled litigation with several
California counties and cities related to the companies'
advertising for lead paint .
The federal government banned the use of lead paint in homes in
1978. The companies had argued that they were being penalized for
truthful advertising of a product that was legal and commonly used
at the time.
Sherwin-Williams said Wednesday that while it "continues to
believe that this litigation was unfair, unwarranted and unwise,
the resolution announced today will enable all parties to move
forward and is in the best interests of the Company and its
shareholders."
In May 2018, NL Industries reached a settlement agreement, and
recorded a related $62 million pretax charge in the 2018 second
quarter. NL said the other defendants filed motions with the trial
court objecting to the terms of the settlement.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
July 17, 2019 14:42 ET (18:42 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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