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Material Overcharge Settlement
 6 Months Ended
Jun. 30, 2016
Material Overcharge Settlement  
Material Overcharge Settlement

13) Material Overcharge Settlement

 

The Company was a participant in a class action lawsuit against a number of polyurethane foam suppliers (“Defendants”) that recently reached settlement.   The suit was filed to recover damages and obtain injunctive relief for Defendants’ alleged violations of the federal antitrust laws with respect to the fixing of prices of polyurethane foam sold from January 1, 1999 through August, 2010.  The Company received a settlement amount of approximately $432,000 during the three-month period ended June 30, 2016.  The Company received an additional settlement amount of approximately $1.7 million in July, 2016, which will be recorded in the three-month period ending September 30, 2016, and which is the final payment the Company will receive for this settlement. The settlement amount for the current quarter is recorded as “Material overcharge settlement” in the operating income section of the Condensed Consolidated Statements of Income.