Chemtura Corp (fka CHMT)

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Chemtura to settle securities lawsuit. Chemtura's insurance will pay out 11.4 million dollars.

5. In August 2006, the Lead Plaintiffs, Chemtura and the other co-defendants(together, the “Parties”) entered into mediation before Judge Daniel Weinstein. Following themediation and continued telephonic negotiations, the Parties agreed to settle the Securities Action for the payment of $20,650,000 (the “Original Settlement Amount”) under the terms of the Prepetition Settlement.

10. Pursuant to the Settlement Stipulation, the defendants have paid $11,357,500 (the “Settlement Amount”) from Chemtura’s insurance into an interest-bearing account (the “Escrow Account”) established on behalf of Lead Plaintiffs and the members of the Class.

Co-Lead Counsel to the Lead Plaintiffs and the Class will
withdraw with prejudice Proof of Claim Number 10757 filed against Chemtura asserting an unsecured secured claim for $9,292,500 based upon the return of the Prepetition Transfers, Proof
of Claim Number 10766 in an unliquidated amount and, on behalf of William Ashe, Proof of Claim Number 10833 filed against Chemtura in the amount of $1,007,582.97.

http://www.kccllc.net/documents/0911233/0911233100416000000000007.pdf