Nov 12, 2007. /Lesprom Network/. UPM has been named as a defendant in multiple class-action lawsuits raised against magazine paper and labelstock manufacturers in the United States. The company has now agreed to settle the class-action lawsuits raised by direct purchasers of magazine paper and labelstock, UPM announced. According to the agreement UPM will pay compensation to magazine paper customers in value of $9 million and to labelstock customers of $8.25 million. The charge, a total of approx. Euro 12 million, will be recorded for the last quarter of 2007. Class-action lawsuits filed by indirect purchasers of magazine paper and labelstock continue to be pending. Class-action lawsuits were raised after the US Department of Justice opened criminal investigations into competitive practices in 2003. The US authorities have since concluded the investigations.