Westlake Chemical Corporation (NYSE: WLK) entered into a $67 million settlement agreement with direct purchaser plaintiffs in class action litigation alleging price-fixing conspiracy in the PVC pipe and fittings market.

The settlement, announced in a company filing, relates to ten class action lawsuits filed in Illinois between August 2024 and June 2025. The lawsuits alleged that Westlake and other PVC pipe manufacturers conspired with each other and industry publication OPIS to fix prices of PVC pipe and fittings in the United States.

Direct purchaser plaintiffs filed a motion for preliminary approval of the settlement agreement on April 13, 2026. The settlement requires court approval and fulfillment of certain conditions before becoming final.

Under the agreement, Westlake will pay $67 million to the direct purchaser settlement class in exchange for release from certain claims related to the litigation. The settlement agreement states that the resolution "shall not be deemed or construed to be an admission of liability or wrongdoing by any party."

Claims by indirect purchaser plaintiffs in the PVC pipe antitrust litigation remain pending and are not covered by this settlement agreement.

The company had previously disclosed the litigation in periodic filings under the Securities Exchange Act of 1934.