International Paper Co. will set aside $354 million in pretax charges in the second quarter following an agreement to settle an antitrust class-action suit for the same amount, the company said Tuesday. Kleen Products sued International Paper and seven other containerboard producers in 2010 for alleged price fixing. “In this complex class-action case, where any award would be tripled and potentially paid by International Paper alone, this settlement avoids the substantial uncertainty of continued involvement with this litigation and a possible adverse jury verdict,” said the company in a statement.
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