Parties in Philadelphia Refinery Exposure Benzene Case Reach Settlement Agreement

PHILADELPHIA –– Benzene plaintiffs and several defendants –– including ConocoPhillips (NYSE:COP), Sunoco (NYSE:SUN) and Sherwin-Williams (NYSE:SHW) –– have reached a settlement agreement, obviating the need for a Dec. 2 trial setting, according to recent court documents.

According to a Nov. 22 letter addressed to Judge Lisa M. Rau of the Pennsylvania Court of Common Pleas for Philadelphia County, the parties are in the process of finalizing the settlement agreements, which also involve defendant Carboline Co.

The letter, written by counsel for ConocoPhillips Co. and Sunoco Inc. and Sunoco Inc. (R&M), said that it was their understanding that the claims …