Flexsteel settles EPA Superfund dispute for $9.8M, disputes liability but achieves finality

FLEXSTEEL INDUSTRIES INC

$9.8M cash settlement with EPA for Lane Street Groundwater Contamination Superfund Site in Elkhart, Indiana.
Flexsteel strongly disputes liability but settlement resolves alleged liability including past and future remediation costs.
Settlement stems from 1997 acquisition of Dygert Seating assets; EPA began pursuing Flexsteel in 2016.
Net of expected insurance proceeds, uncovered contribution not expected to exceed previously recognized liability.
Consent Decree subject to court approval; provides finality for long-running dispute.

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