U.S. Markets closed

Whirlpool and LG settle patent disputes

BENTON HARBOR, Mich. (AP) -- Whirlpool Corp. and LG Electronics Inc. said Friday that they have agreed to settle their respective patent infringement claims related to refrigerators.

The deal ends years of litigation between the Benton Harbor, Mich.-based appliance maker and its South Korean rival. It also will result in the dismissal of three pending patent infringement lawsuits involving the two companies in U.S. courts, the companies said.

Additional terms of the settlement were not disclosed.

Whirlpool shares fell 21 cents to $83.27 in late afternoon trading.