Otter Tail Corp agrees to $30M settlement in PVC pipe antitrust case

Otter Tail Corporation (NASDAQ: OTTR) has agreed to pay $30 million to settle claims brought by an end-user class in a consolidated federal antitrust lawsuit involving PVC pipe manufacturers.

The settlement agreement, signed on June 17, 2026, covers claims by the End-User Class in the case known as In re: PVC Pipe Antitrust Litigation (Case No. 1:24-cv-07639), pending in the United States District Court for the Northern District of Illinois. The lawsuit, which was consolidated from multiple putative class action filings in 2024, names Otter Tail and more than two dozen other PVC pipe and conduit manufacturers as defendants, alleging coordinated conduct in violation of antitrust laws.

The $30 million payment would be made by Otter Tail subsidiaries Northern Pipe Products, Inc. and Vinyltech Corporation. The amount covers class member recoveries, attorneys' fees, and settlement administration costs. Payment is expected approximately 21 days after the court grants preliminary approval of the agreement.

The settlement is subject to both preliminary and final court approval. The end-user plaintiffs have agreed to file a motion for preliminary approval as soon as practicable.

Otter Tail stated the settlement does not constitute an admission of wrongdoing, fault, or liability. The company said it plans to fund the payment from available cash and does not expect the settlement to have a material adverse effect on its financial position or liquidity.

Two other plaintiff classes — the Direct Purchaser Class and the Non-Converter Seller Purchaser Class — remain part of the ongoing litigation. Otter Tail said it intends to continue defending itself in those proceedings if the current settlement is not finalized.

You May Also Be Interested In

• U.S. and Denmark close in on a Greenland deal - Reuters
• Dianthus Therapeutics (DNTH) files mixed shelf
• Nscale files for IPO, seeks NYSE listing under ticker NSCL