Anheuser-Busch Cos Inc. said on Wednesday it agreed to pay $120 million to settle lawsuits brought by the family of former Major League Baseball star Roger Maris.
The brewer said in a filing with the U.S. Securities and Exchange Commission that it would take a pretax charge of $105 million in the third quarter.
The Maris family, which operates Maris Distributing Co., and Anheuser-Busch brewer announced the settlement on Tuesday, but did not disclose terms at the time. Jurors were deliberating when the settlement was announced.
Anheuser-Busch shares were down 15 cents at $44.30 in early afternoon trading on the New York Stock Exchange.
The family had been asking for up to $5 billion from the top U.S. brewer, which the Maris family claimed made false statements about the family’s beer distributorship.