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Dow Chemical (DOW) Stock Retreats, Agrees to $400 Million Settlement

NEW YORK (TheStreet) -- Dow Chemical (DOW - Get Report) stock is sliding by 1.14% to $50.35 in late-morning trading on Thursday, after the company agreed to pay $400 million to settle allegations of price fixing from some of its large customers, the Wall Street Journal reports.

The customers alleged that Dow Chemical and several other companies colluded to set prices higher than they should have been for polyurethane-foam materials used in cars, packaging and household materials.

The settlement follows a previous agreement by the company to pay $835 million to settle a related class action lawsuit, the Journal...