USG Corp. said Monday it expects to emerge from 4 1/2 years in bankruptcy sometime this summer after the world’s largest manufacturer of wallboard agreed to settle its asbestos-related lawsuits.

The Chicago-based company’s stock leapt $15.59, or 19.5 percent, to $95.44 in afternoon trading Monday on the New York Stock Exchange — its highest level since the early 1990s. The stock traded around $4 in June 2001, when heavy asbestos litigation costs forced USG into Chapter 11.