/raid1/www/Hosts/bankrupt/CAR_Public/081107.mbx
C L A S S A C T I O N R E P O R T E R
Friday, November 7, 2008, Vol. 10, No. 222
Headlines
ALPHARMA INC: Anticipates Consolidated Amended Complaint in N.J.
ALPHARMA INC: Briefing Schedule Not Yet Set in Del. Litigation
ALPHARMA INC: Still Faces FLSA Lawsuit by Sales Reps in N.J.
CELLCO PARTNERSHIP: N.J. Court Dismisses "Litman" Litigation
EMBASSY SUITES: Faces Suit in California Over "Illegal Arrest"
ENDOSCOPY CENTER: Nev. Court Nixes Suit Over Hepatitis C Scare
ICF INT'L: La. Court Conditionally Certifies Class in "Kuperman"
IPEX INC: Nev. Court Give Preliminary Approval to Kitec Lawsuit
NOVARTIS PHARMACEUTICALS: Faces CDN125M Suit Over Zelnorm Drug
ROYAL CARIBBEAN: Appeal for Dismissed Calif. Suit Still Pending
ROYAL CARIBBEAN: Bid to Transfer Copyright Lawsuit Still Pending
ROYAL CARIBBEAN: Faces Arbitration Claim on Employment Expenses
ROYAL CARIBBEAN: Fla. Court Dismisses Shipboard Workers' Lawsuit
ROYAL CARIBBEAN: Fla. Lawsuit Dismissed, Set for Arbitration
ROYAL CARIBBEAN: Several Consolidated Antitrust Suits Dismissed
ROYAL CARIBBEAN: Suit v. Park West's False Claims Still Pending
T-MOBILE USA: Faces Consumer Calif. Suit Over Unwanted Content
UNION CARBIDE: Court Reinstates Suit Over 1984 Bhopal Gas Leak
New Securities Fraud Cases
GENERAL GROWTH: Brodsky & Smith Announces Securities Suit Filing
GENERAL GROWTH: Roy Jacobs Announces Securities Suit Filing
NOAH EDUCATION: Wolf Haldenstein Files Securities Suit in N.Y.
SADIA S.A.: Saxena White Files Securities Fraud Suit in N.Y.
Asbestos Alerts
ASBESTOS LITIGATION: Supreme Court Favors Board in Ciafone Case
ASBESTOS LITIGATION: N.Y. Court Upholds Settlement in Dana Case
ASBESTOS LITIGATION: Crane Cites $877.75M Liability at Sept. 30
ASBESTOS LITIGATION: Crane Co. Records 76,181 Claims at Sept. 30
ASBESTOS LITIGATION: Crane Incurs $71.1M for Settlement, Defense
ASBESTOS LITIGATION: Baccus' Verdict Still Pending in Pa. Court
ASBESTOS LITIGATION: Crane Files Post-Trial Bids in Brewer Suit
ASBESTOS LITIGATION: Hercules Has $211.3M Liability at Sept. 30
ASBESTOS LITIGATION: Hercules Facing 25,563 Claims at Sept. 30
ASBESTOS LITIGATION: Hercules Anticipates $35M Cash for Asbestos
ASBESTOS LITIGATION: Cases v. U.S. Steel Rise to 415 at Sept. 30
ASBESTOS LITIGATION: Flowserve Corp. Still Facing Injury Actions
ASBESTOS LITIGATION: Union Carbide Has $120M Current Liabilities
ASBESTOS LITIGATION: 82,823 Claims Pending Against Union Carbide
ASBESTOS LITIGATION: UCC Records $127M Defense, Resolution Costs
ASBESTOS LITIGATION: Union Carbide Has $415M Sept. 30 Receivable
ASBESTOS LITIGATION: Union Carbide Inks Settlements in N.Y. Case
ASBESTOS LITIGATION: Ashland Inc.'s Claims Reserve Totals $522M
ASBESTOS LITIGATION: Diamond Offshore Still Facing Miss. Actions
ASBESTOS LITIGATION: Eastman Chem. Still Facing Exposure Actions
ASBESTOS LITIGATION: Lincoln Facing Actions w/ 27,115 Plaintiffs
ASBESTOS LITIGATION: Rogers Cites $19.3Mil Liability at Sept. 28
ASBESTOS LITIGATION: Sealed Air Corp. Reports $698.6M Liability
ASBESTOS LITIGATION: 1,400 Claims Ongoing Against Chicago Bridge
ASBESTOS LITIGATION: Navigators Has $16.66M Reserves at Sept. 30
ASBESTOS LITIGATION: BorgWarner Facing 38,000 Claims at Sept. 30
ASBESTOS LITIGATION: BorgWarner Still Facing CNA Action in Ill.
ASBESTOS LITIGATION: 40 Railton Cement Exposure Actions Settled
ASBESTOS LITIGATION: Rochester Action Filed v. 56 Firms in Texas
ASBESTOS LITIGATION: Dobbs Lawsuit v. 3 Companies Filed in Texas
ASBESTOS LITIGATION: Crane Seeks Dismissal of Butt Case in Ill.
ASBESTOS LITIGATION: Inquest Rules on Mansfield Resident's Death
ASBESTOS LITIGATION: Hazard Causes Christy Refractories' Ch. 11
ASBESTOS LITIGATION: Car Dealers to Pay GBP7T for Cleanup Breach
ASBESTOS LITIGATION: ATSDR Issues Report on Libby's Vermiculite
ASBESTOS LITIGATION: Hartford Cites $1.93B Liability at Sept. 30
ASBESTOS LITIGATION: Corning Inc. Facing 10,300 Injury Lawsuits
ASBESTOS LITIGATION: MeadWestvaco Facing 480 Actions at Sept. 30
ASBESTOS LITIGATION: Two Lorillard Filter Actions Set for Trial
ASBESTOS LITIGATION: CBS Corp. Facing 69,280 Claims at Sept. 30
ASBESTOS LITIGATION: Goodyear Facing 118,200 Claims at Sept. 30
ASBESTOS LITIGATION: Perrucio Faces Asbestos Fraud Accusations
ASBESTOS LITIGATION: New Scottish Legislation Could Cost GBP607M
ASBESTOS LITIGATION: CSR Profit Drops to 51% Due to Liabilities
ASBESTOS LITIGATION: Scottish Parliament to Support Legislation
ASBESTOS LITIGATION: Fla. Jury Awards Daly Couple US$3M Damages
ASBESTOS LITIGATION: Motroni Case Filed v. 86 Firms in Illinois
ASBESTOS LITIGATION: 2 London Boroughs Pose High Exposure Risks
ASBESTOS LITIGATION: HSE Survey Shows 387 Deaths in Sunderland
ASBESTOS LITIGATION: Victoria Government to Apologize to Victims
*********
ALPHARMA INC: Anticipates Consolidated Amended Complaint in N.J.
----------------------------------------------------------------
Alpharma Inc. and its directors, in its Form 10-Q dated Oct. 29,
2008, anticipate that plaintiffs in five purported class-action
lawsuits in New Jersey will file a consolidated amended
complaint.
In August and September 2008, five purported class action
lawsuits were filed in New Jersey against the Company and its
directors by alleged shareholders of the Company.
Each of the five complaints alleges that the Company's directors
breached their fiduciary duties in connection with the tender
offer by Albert Acquisition Corp., a Delaware corporation and
wholly owned subsidiary of King Pharmaceuticals, Inc., to
purchase all outstanding Class A common stock of the Company,
including by adopting and maintaining the Company's Rights
Agreement, dated as of Sept. 1, 2008, and seeks declaratory,
injunctive and other relief.
In October 2008, the Court issued an Order consolidating the
five lawsuits into one action, and appointing lead plaintiff and
lead plaintiff's counsel.
According to its Oct. 29, 2008 Form 10-Q Filing with the U.S.
Securities and Exchange Commission for the quarter ended
Sept. 30, 2008, the Company and its directors have no obligation
to answer or otherwise respond to the current complaints in the
meantime.
Based in Bridgewater, N.J., Alpharma Inc. is a global specialty
pharmaceutical company that develops, manufactures and markets
pharmaceutical products for humans and animals. The Company's
businesses are organized in two business segments:
Pharmaceuticals and Animal Health.
ALPHARMA INC: Briefing Schedule Not Yet Set in Del. Litigation
--------------------------------------------------------------
The Delaware court has not yet set a briefing schedule in a
purported class action lawsuit filed against Alpharma Inc. and
its directors, according to its Oct. 29, 2008 Form 10-Q Filing
with the U.S. Securities and Exchange Commission for the quarter
ended Sept. 30, 2008.
In September 2008, a purported class action lawsuit was filed in
Delaware against the Company and its directors by an alleged
shareholder of the Company.
The complaint alleges that the Company's directors breached
their fiduciary duties in connection with the Offer, including
by adopting and maintaining the Rights Agreement, and seeks
injunctive and other relief.
In October 2008, the Company and its directors filed a motion to
dismiss or, in the alternative, stay the action.
Based in Bridgewater, N.J., Alpharma Inc. is a global specialty
pharmaceutical company that develops, manufactures and markets
pharmaceutical products for humans and animals. The Company's
businesses are organized in two business segments:
Pharmaceuticals and Animal Health.
ALPHARMA INC: Still Faces FLSA Lawsuit by Sales Reps in N.J.
------------------------------------------------------------
Alpharma, Inc. is still facing a purported class-action lawsuit
filed in the U.S. District Court in New Jersey under the Fair
Labor Standards Act (FLSA), according to the company's Oct. 29,
2008 Form 10-Q Filing with the U.S. Securities and Exchange
Commission for the quarter ended Sept. 30, 2008.
The complaint alleges that, among other things,
-- over 200 of the Company's U.S. based Pharmaceuticals
sales representatives were denied overtime pay, in
violation of state and federal labor laws, by being
paid for 40 hour weeks even though they worked in
excess of 55 hours per week, and
-- the Company violated federal record-keeping
requirements.
Based in Bridgewater, N.J., Alpharma Inc. is a global specialty
pharmaceutical company that develops, manufactures and markets
pharmaceutical products for humans and animals. The Company's
businesses are organized in two business segments:
Pharmaceuticals and Animal Health.
CELLCO PARTNERSHIP: N.J. Court Dismisses "Litman" Litigation
------------------------------------------------------------
The U.S. District Court for the District of New Jersey has
dismisses a purported class-action lawsuit against Cellco
Partnership d/b/a Verizon Wireless, which was brought by
consumers alleging that an administrative charge was improperly
imposed on their accounts, The Metropolitan Coporate Counsel
reports.
The suit, captioned, "Litman v. Cellco Partnership, Case No.
3:07-cv-04886-FLW-JJH," which was filed by Keith Litman and
Robert Wachtel on Oct. 9, 2007.
The court dismissed the consumer class-action lawsuit on the
grounds that the service contract required individual
arbitration and therefore precluded the plaintiffs from going
directly to court as a class. It held that the Federal
Arbitration Act required that the arbitration clause in the
service contract be enforced.
The suit is "Litman v. Cellco Partnership, Case No. 3:07-cv-
04886-FLW-JJH," filed in the U.S. District Court for the
District of New Jersey, Judge Freda L. Wolfson, presiding.
Representing the plaintiffs is:
Steven L. Wittels (swittels@nydclaw.com)
Sanford, Wittels & Heisler, LLP
440 West Street
2nd Floor
Fort Lee, NJ 07024
Phone: (201) 585-5288
Representing the defendants is:
Todd Lawrence Schleifstein (schleifsteint@gtlaw.com)
Greenberg Traurig, LLP
200 Park Avenue
Florham Park, NJ 07932-5400
Phone: (973) 360-7918
Fax: (973) 301-8410
EMBASSY SUITES: Faces Suit in California Over "Illegal Arrest"
--------------------------------------------------------------
The Embassy Suites Hotel, along with the City of San Rafael,
California, are facing a purported class-action suit, alleging
violations of the Civil Rights Act, Henry K. Lee of The San
Francisco Chronicle reports.
The suit, styled, "Atwood v. City of San Rafael et al., Case No.
3:08-cv-05002-EMC," was filed on Nov. 3, 2008 in the U.S.
District Court for the Northern District of California.
It was filed by Doane Atwood, 40, a man arrested at the Embassy
Suites Hotel on McInnis Parkway in San Rafael for allegedly
agreeing to engage in lewd acts with an undercover officer,
according to the San Francisco Chronicle report.
The purported federal class-action lawsuit, which seeks
unspecified damages, claims that officers are engaging in
discrimination because they never target suspects of the
opposite sex. It accuses the police of violating the 14th
Amendment's equal protection clause.
Aside from the hotel and the city, others defendants named in
the suit are:
-- Police Chief Matthew Odetto,
-- Officer Rolegio Leon,
-- Officer Robert Henkle,
-- Cpl. Richard Clary, and
-- Officer aron Piombo.
Mr. Atwood told that he was arrested on Nov. 8, 2007, when he
engaged in a short conversation with what turned out to be an
undercover police officer in the restroom of the Embassy Suites
Hotel, the San Francisco Chronicle report.
According to Mr. Atwood's suit, as he left a stall, he noticed a
man sitting inside an adjacent stall who was "looking at him and
smiling through the crack between the door and the jamb."
Mr. Atwood smiled back and exchanged nods with the person, later
identified as Officer Rogelio Leon. Officer Leon opened the
stall door and whispered, "Wanna go to my room?" To which Mr.
Atwood replied "sure" and was arrested by a group of officers
outside the restroom for loitering with the intent to engage in
or solicit a lewd act in public.
The suit states that charges against Mr. Atwood were later
dropped after a bench trial at which he was not required to
testify.
Mr. Atwood's attorney, Bruce Nickerson, Esq. is seeking class-
action status for the suit so he can represent other people who
were similarly arrested by San Rafael police.
Mr. Atwood acknowledged that he was seeking a sexual encounter,
but it was for private, consensual sex in a hotel room where no
one else could be offended, Mr. Nickerson told the San Francisco
Chronicle.
Mr. Nickerson pointed out to the San Francisco Chronicle, "No.
1, he was arrested for legal conduct. No. 2, he was arrested
discriminatorily because they never make that kind of arrest for
male-female conduct."
The suit is "Atwood v. City of San Rafael et al., Case No. 3:08-
cv-05002-EMC," filed in the U.S. District Court for the Northern
District of California, Judge Edward M. Chen, presiding.
Representing the plaintiffs is:
Bruce William Nickerson, Esq. (brucenic@pacbell.net)
Law Office of Bruce W. Nickerson
231 Manor Drive
San Carlos, CA 94070
Phone: 650-594-0195
Fax: 650-596-0595
ENDOSCOPY CENTER: Nev. Court Nixes Suit Over Hepatitis C Scare
--------------------------------------------------------------
The Eighth Judicial District Court in Nevada dismissed a class-
action lawsuit against the Endoscopy Center of Southern Nevada
on behalf of those former patients who were not infected with
any disease.
The suit , which was filed by attorneys of Mainor Eglet &
Cottle, claimed it was the responsibility of the facility to pay
for the testing the patients had to incur. It does not involve
any patients of the clinic who may have allegedly contracted
either hepatitis C or HIV between March 2004 and January 2008.
The clinic came under investigation in February 2008 after
exposing more than 50,000 people and infecting nine former
patients with hepatitis C. Agents from the Southern Nevada
Health district found that the staff at the facility was reusing
medical vials and syringes on multiple patients.
After the announcement of the investigation, the Endoscopy
Center and its five sister facilities were closed to medical
practice.
During the hearing, Judge Allan R. Earl decided that more
information was needed in the case before he would give it more
consideration.
Asked by KVVU.com for comment, plaintiff's attorney Robert
Cottle, Esq., said, "We will probably take it to the Supreme
Court." He adds, "We feel strongly that this case should be a
class action and should be steered by a group of individuals
that are here today."
ICF INT'L: La. Court Conditionally Certifies Class in "Kuperman"
----------------------------------------------------------------
The U.S. District Court for the Eastern District of Louisiana
conditionally certified an overtime lawsuit as a class-
collection against against ICF International, ICF Consulting
Group LLC, ICF Emergency Management Services LLC, and Quadel
Housing Services Inc. of Washington, D.C.
The suit styled, "Kuperman et al v. ICF International et al.,
Case No. 2:2008cv00565," was filed by former employees of the
firms, which are managing a $10.3 billion disaster-assistance
program for victims of hurricanes Katrina and Rita.
It was filed in the U.S. District Court for the Eastern District
of Louisiana by Laila Kuperman, Catherine Z. Lyles, and Jason J.
Ricks on Jan. 15, 2008, alleging violations of the Fair Labor
Standards Act.
Specifically, the suit alleges that the companies improperly
retained millions of dollars in overtime that should have been
paid to employees in what is known as the Road Home program.
Judge Carl J. Barbier of the U.S. District Court for the Eastern
District of Louisiana conditionally certified the suit as a
class-collection. However, Judge Barbier said that if
plaintiffs fail to produce evidence that hundreds of other
workers were improperly denied overtime payments, he can revoke
the certification of the class.
The suit is "Kuperman et al v. ICF International et al., Case
No. 2:2008cv00565," filed in the U.S. District Court for the
Eastern District of Louisiana, Judge Carl Barbier, presiding.
Representing the plaintiffs is:
Jonathan M. Herman, Esq. (jherman@midrid.com)
Middleberg, Riddle & Gianna
717 North Harwood
Suite 2400
Dallas, TX 75201
Phone: 214-220-6300
Fax: 214-220-6807
Representing the defendants are:
Pauline Hardin, Esq. (phardin@joneswalker.com)
Jones Walker
Place St. Charles
201 St. Charles Ave.
New Orleans, LA 70170-5100
Phone: (504) 582-8000
- and -
Amanda Strickland Stout, Esq. (astout@mcglinchey.com)
McGlinchey Stafford, PLLC
301 Main Street
14th Floor
Baton Rouge, LA 70825
Phone: 225-383-9000
Fax: 225-343-3076
IPEX INC: Nev. Court Give Preliminary Approval to Kitec Lawsuit
---------------------------------------------------------------
The Clark County District Court in Nevada has given preliminary
approval to a $90 million settlement in a plumbing defect class-
action lawsuit, which names IPEX, Inc., as one of the
defendants, Jeff Pope of the Las Veags Sun reports.
Under the terms of the tentative agreement, IPEX would pay the
lump sum in exchange for the company and its subsidiaries and
wholesalers being severed from the suit.
Judge Timothy Williams set another hearing for Jan. 26, 2009, at
which time the deal could be finalized.
Despite the settlement, the case is far from over, with about 25
home builders and six plumbing companies remaining as defendants
in the suit, according to attorneys Randall Jones, Esq., and
William Coulthard, Esq., both of Harrison, Kemp, Jones &
Coulthard.
Mr. Jones told Las Vegas Sun that IPEX's settlement represents
about 25 percent to 33 percent of the total cost of replacing
plumbing fixtures. The legal action seeks to collect $10,000 in
damages for each property owner for a complete re-plumb of the
homes.
The Las Vegas Sun reports that members of the suit, including
nearly 3,000 additional homes identified in the past few months,
will be notified of the settlement by mail.
Case Background
The class-action lawsuit concerns brass plumbing fittings (Kitec
Fittings) that have been used within homes in Clark County,
Nevada. Kitec Fittings are used to connect composite pipe
manufactured by IPEX, Inc., a Canadian company.
IPEX's composite pipe, which is known as Kitec, consists of
flexible aluminum pipe sandwiched between an inner and outer
layer of plastic pipe (PEX Pipe). Kitec generally comes in two
colors: blue (for cold water use) and orange (for hot water
use).
Kitec Fittings were used extensively in the construction of
residential homes throughout Clark County, Nevada. It is
estimated that between thirty-five and fifty thousand (35,000-
50,000) homes may contain Kitec fittings within Clark County,
Nevada, which Class Counsel are working diligently to identify.
The lawsuit was filed on Feb. 15, 2006, and was certified as a
class-action on October 16, 2006. It is currently captioned,
"In Re Kitec Fitting Litigation, Case No. A493302."
The class-action lawsuit generally alleges that Kitec Fittings
fail when they are exposed to water because of a chemical
reaction known as dezincification, which results in reduced
water flow and leaks. Dezincified Kitec Fittings therefore
cause damage not only when they burst and leak, but also impair
the ability of a home's plumbing system to effectively provide
water to appliances and fixtures.
NOVARTIS PHARMACEUTICALS: Faces CDN125M Suit Over Zelnorm Drug
--------------------------------------------------------------
Novartis Pharmaceuticals Canada, Inc. is facing a purported
CDN125-million class-action lawsuit in Toronto Superior Court
over the drug, Zelnorm, which is used to relieve the
uncomfortable symptoms of irritable bowel syndrome, Mathew
McCarthy of The Waterloo Record reports.
The claim, filed recently in Toronto Superior Court, alleges
that Novartis failed to inform Canadians of the increased risk
of cardiovascular disease for patients taking Zelnorm, which was
approved for sale in Canada in March 2002, according to the
Waterloo Record report.
In 2007, Health Canada suspended the sale of Zelnorm in Canada
following a clinical trial, involving 18,600 people, which
showed a higher incidence of heart attacks and strokes in
patients taking the drug than in patients taking a placebo,
according to the statement of claim.
Joel Rochon, a Toronto lawyer is representing the plaintiff in
the purported class-action lawsuit, The Waterloo Record reports.
ROYAL CARIBBEAN: Appeal for Dismissed Calif. Suit Still Pending
---------------------------------------------------------------
The appeal from the dismissed purported class action lawsuit
alleging that Royal Caribbean Cruises Ltd. failed to timely pay
crew wages and failed to pay proper crew overtime remains
pending.
In July 2006, the purported class action lawsuit was filed in
the U.S. District Court for the Central District of California.
The suit seeks payment of damages, including penalty wages under
the U.S. Seaman's Wage Act and equitable relief damages under
the California Unfair Competition Law.
In December 2006, the District Court granted the Company's
motion to dismiss the claim and held that it should be
arbitrated under the arbitration provision in Royal Caribbean's
collective bargaining agreement.
In January 2007, the plaintiffs appealed the order to the U.S.
Ninth Circuit Court of Appeals, according to the Company's Oct.
29, 2008 Form 10-Q Filing with the U.S. Securities and Exchange
Commission for the quarter ended Sept. 30, 2008.
Royal Caribbean Cruises Ltd. -- http://www.royalcaribbean.com/
-- is a cruise company with 35 cruise ships and 71,200 berths.
The Company operates five brands: Royal Caribbean International,
Celebrity Cruises, Pullmantur Cruises, Azamara Cruises, and CDF
Croisieres de France.
ROYAL CARIBBEAN: Bid to Transfer Copyright Lawsuit Still Pending
----------------------------------------------------------------
Royal Caribbean Cruises Ltd.'s motion to transfer a class-action
suit in the U.S. District Court for the Southern District of New
York for alleged intellectual property rights violations remains
pending.
The suit was filed in January 2006 alleging that the Company
infringed rights in copyrighted works and other intellectual
property by presenting performances on its cruise ships without
securing the necessary licenses. The suit seeks payment of
damages, disgorgement of profits and a permanent injunction
against future infringement.
In April 2006, the Company moved to sever and transfer the case
to the U.S. District Court for the Southern District of Florida,
according to its Oct. 29, 2008 Form 10-Q Filing with the U.S.
Securities and Exchange Commission for the quarter ended Sept.
30, 2008.
Royal Caribbean Cruises Ltd. -- http://www.royalcaribbean.com/
-- is a cruise company with 35 cruise ships and 71,200 berths.
The Company operates five brands: Royal Caribbean International,
Celebrity Cruises, Pullmantur Cruises, Azamara Cruises, and CDF
Croisieres de France.
ROYAL CARIBBEAN: Faces Arbitration Claim on Employment Expenses
---------------------------------------------------------------
Royal Caribbean Cruises Ltd. faces a purported class action
arbitration claim filed in June 2008, according to the Company's
Oct. 29, 2008 Form 10-Q Filing with the U.S. Securities and
Exchange Commission for the quarter ended Sept. 30, 2008.
The purported class action arbitration claim was made against
the Company alleging that it required shipboard personnel of the
Company's Royal Caribbean International brand to pay for their
own employment commencement expenses in violation of the
Company's collective bargaining agreement.
Royal Caribbean Cruises Ltd. -- http://www.royalcaribbean.com/
-- is a cruise company with 35 cruise ships and 71,200 berths.
The Company operates five brands: Royal Caribbean International,
Celebrity Cruises, Pullmantur Cruises, Azamara Cruises, and CDF
Croisieres de France.
ROYAL CARIBBEAN: Fla. Court Dismisses Shipboard Workers' Lawsuit
----------------------------------------------------------------
A purported class-action lawsuit filed against Royal Caribbean
Cruises Ltd., Celebrity Cruises and a related party, Celebrity
Catering Services, was dismissed by the U.S. District Court for
Southern District of Florida in June 2008.
In April 2008, the purported class action was filed in the
District Court alleging that it underpaid wages and overtime pay
for the Company's shipboard personnel.
The suit also alleged that the Company improperly deducted
amounts from the gratuities paid to certain of the Company's
shipboard restaurant personnel.
The suit sought payment of damages, including penalty wages
under the U.S. Seaman's Wage Act.
According to the Company's Oct. 29, 2008 Form 10-Q Filing with
the U.S. Securities and Exchange Commission for the quarter
ended Sept. 30, 2008, in June 2008, the court dismissed the case
and ordered the parties to arbitration in accordance with the
terms of the applicable collective bargaining agreements.
Royal Caribbean Cruises Ltd. -- http://www.royalcaribbean.com/
-- is a cruise company with 35 cruise ships and 71,200 berths.
The Company operates five brands: Royal Caribbean International,
Celebrity Cruises, Pullmantur Cruises, Azamara Cruises, and CDF
Croisieres de France.
ROYAL CARIBBEAN: Fla. Lawsuit Dismissed, Set for Arbitration
------------------------------------------------------------
A purported class-action lawsuit filed against Royal Caribbean
Cruises Ltd., Celebrity Cruises and a related party, Celebrity
Catering Services, in the U.S. District Court for the Southern
District of Florida was dismissed in June 2008.
In March 2008, a purported class-action lawsuit was filed
against the Company, Celebrity Cruises and a related party,
Celebrity Catering Services, in the U.S. District Court for the
Southern District of Florida alleging that the Company
improperly deducted amounts from the gratuities paid to its
shipboard servers, waiters, bar tenders and other personnel in
its bar and restaurant departments.
The suit also alleged that such persons were not properly
compensated for their hours worked.
The suit sought payment of damages, including penalty wages
under the U.S. Seaman's Wage Act.
According to the Company's Oct. 29, 2008 Form 10-Q Filing with
the U.S. Securities and Exchange Commission for the quarter
ended Sept. 30, 2008, the suit was ordered to arbitration in
accordance with the terms of the applicable collective
bargaining agreement.
Royal Caribbean Cruises Ltd. -- http://www.royalcaribbean.com/
-- is a cruise company with 35 cruise ships and 71,200 berths.
The Company operates five brands: Royal Caribbean International,
Celebrity Cruises, Pullmantur Cruises, Azamara Cruises, and CDF
Croisieres de France.
ROYAL CARIBBEAN: Several Consolidated Antitrust Suits Dismissed
---------------------------------------------------------------
About five consolidated purported class-action lawsuits were
voluntarily dismissed by the plaintiffs in April 2008, according
to Royal Caribbean Cruises Ltd.'s Royal Caribbean Cruises Ltd.
The actions had been filed in February and March 2008, in the
U.S. District Court for the Southern District of Florida.
According to the Company's Oct. 29, 2008 Form 10-Q Filing with
the U.S. Securities and Exchange Commission for the quarter
ended Sept. 30, 2008, the actions alleged that the Company,
other cruise lines and a trade association violated Federal
anti-trust laws or state deceptive and unfair trade practices
laws by conspiring to fix the prices of the fuel supplements
announced by the various cruise lines or misleading consumers as
to the relationship between each cruise line's fuel costs and
the fuel supplements it is charging its customers.
Royal Caribbean Cruises Ltd. -- http://www.royalcaribbean.com/
-- is a cruise company with 35 cruise ships and 71,200 berths.
The Company operates five brands: Royal Caribbean International,
Celebrity Cruises, Pullmantur Cruises, Azamara Cruises, and CDF
Croisieres de France.
ROYAL CARIBBEAN: Suit v. Park West's False Claims Still Pending
---------------------------------------------------------------
A purported class-action lawsuit alleging that Park West
Galleries, Inc. sold art pieces that it falsely claimed were
authored by certain artists is in the early stages of
litigation, according to Royal Caribbean Cruises Ltd.'s Oct. 29,
2008 Form 10-Q Filing with the U.S. Securities and Exchange
Commission for the quarter ended Sept. 30, 2008.
In October 2008, the Company was named as a defendant in the
purported class-action suit filed in the U.S. District Court for
the Western District of Washington against Park West, Fine Art
Sales, Inc., HSBC Bank Nevada, NA, HSBC Finance Corporation,
Holland America Line Inc., Holland America Line – USA Inc. and
other unnamed parties on behalf of purchasers of artwork from
Park West.
The suit seeks damages and equitable relief on behalf of the
class members and alleges claims for violation of the Racketeer
Influenced and Corrupt Organizations Act (RICO), breach of
contract, statutory fraud and other similar claims.
Park West has a concession to sell artwork onboard Royal
Caribbean International and Celebrity Cruises ships.
Royal Caribbean Cruises Ltd. -- http://www.royalcaribbean.com/
-- is a cruise company with 35 cruise ships and 71,200 berths.
The Company operates five brands: Royal Caribbean International,
Celebrity Cruises, Pullmantur Cruises, Azamara Cruises, and CDF
Croisieres de France.
T-MOBILE USA: Faces Consumer Calif. Suit Over Unwanted Content
--------------------------------------------------------------
T-Mobile USA, Inc. is facing a purported class-action lawsuit in
California, which accuses the company for charging consumers for
wireless content they did not ask for, RCR Wireless reports.
The litigation was originally filed in May 2008 Riverside County
Superior Court, under case number RIC500416. On Oct. 28, 2008,
the case was transferred last week to the U.S. District Court
for the Central District of California under the caption, "Kevin
Ranger v. T-Mobile USA Inc., Case No. 5:08-cv-01518-VAP-JC."
The 15-page complaint obatined by RCR Wireless stated, "T-
Mobile's conduct is by no means accidental." It further states,
"As previously alleged, it knows that many of its cellular
telephone customers dispute the mobile content provider's claim
that such customer consented to be charged for their mobile
content services. T-Mobile further knows that it cannot
authenticate such customer's authority to be billed for such
mobile content charges. In light of its knowledge of these
facts, T-Mobile's decision continue to charge its customers for
mobile content without taking steps to authenticate the
representations of the mobile content providers that the
customer's authority to be charged was obtained constitutes a
deliberate and willful scheme to cheat large numbers of people
out of small amounts of money."
The suit is "Kevin Ranger v. T-Mobile USA Inc., Case No. 5:08-
cv-01518-VAP-JC," filed in the U.S. District Court for the
Central District of California, Judge Virginia A. Phillips,
presiding.
Representing the plaintiffs is:
Camilo Echavarria, Esq. (camiloechavarria@dwt.com)
Davis Wright Tremaine LLP
865 South Figueroa Street
Suite 2400
Los Angeles, CA 90017-2566
Phone: 213-633-6800
Fax: 213-633-6899
Representing the plaintiffs is:
David C. Parisi, Esq. (dcparisi@msn.com)
Parisi & Havens LLP
15233 Valleyhearth Drive
Sherman Oaks, CA 91403-1545
Phone: 818-990-1299
UNION CARBIDE: Court Reinstates Suit Over 1984 Bhopal Gas Leak
--------------------------------------------------------------
A U.S. court has reinstated a lawsuit against the Union
Carbide filed by the 1984 Bhopal gas tragedy victims who claim
to have suffered serious ailments due to contamination of
groundwater after a deadly gas leak from the company's
pesticides plant.
The case against the Union Carbide Corp and its former
Chief Executive Warren Anderson was filed in 2004 by residents
and property owners in 16 communities in the vicinity of the
Bhopal plant from which the disastrous gas was leaked on
December 2-3 1984, considered the world's worst industrial
disaster which claimed over 3000 lives.
A three-judge bench of the U.S. Court of Appeals for the
Second Circuit, reinstating the lawsuit yesterday, noted that a
trial court, which had dismissed the case in 2006 and 2007,
failed to give the parties sufficient notice to respond to the
defendants' bid to dismiss it.
"We view this as a close case," U.S. Circuit Judge Robert
D. Sack said. "But we think there is a reasonable likelihood
that, in light of the peculiarly difficult procedural history of
this and related litigation, the plaintiffs were not aware that
they were in danger of an adverse grant of summary judgement
based on the submissions prior to the district court's order
converting the motion and then deciding it." The case, in which
plaintiffs are seeking class-action status and unspecified
damages, was sent back to a U.S. District judge in Manhattan for
further proceedings.
In a statement, the Union Carbide said the appeals court
did not discuss the merits of the case or that of the trial
judge's ruling of dismissal.
"...Its decision should not be interpreted as a ruling of
the merits," the statement said. "It's our belief the trial
judge will follow the Second Circuit's decision to allow further
proceedings and then will rule again on UCC's motion."
New Securities Fraud Cases
GENERAL GROWTH: Brodsky & Smith Announces Securities Suit Filing
----------------------------------------------------------------
The Law offices of Brodsky & Smith, LLC announces that a
class action lawsuit has been filed on behalf of all persons who
purchased the common stock of General Growth Properties,
Inc.("General Growth" or the "Company") (NYSE: GGP) between
April 30, 2008 and October 26, 2008 (the "Class Period").
The class action lawsuit was filedin the United States
District Court for the Northern District of Illinois. The
Complaint alleges that defendants violated federal securities
laws byissuing a series of material misrepresentations to the
market, therebyartificially inflating the price of General
Growth.
No class has yet been certified in the above action.
For more details, contact:
Evan J. Smith, Esq.
Marc L. Ackerman, Esq.
Brodsky& Smith, LLC
Two Bala Plaza, Suite 602
Bala Cynwyd, PA 19004
Phone: 877-LEGAL-90
e-mail: clients@brodsky-smith.com
GENERAL GROWTH: Roy Jacobs Announces Securities Suit Filing
-----------------------------------------------------------
Roy Jacobs & Associates announces that a securities fraud
class action has been filed on behalf of purchasers of the stock
of General Growth Properties, Inc. common stock during the
period from April 30, 2008 through October 26, 2008, (the "Class
Period").
The Complaint alleges that during the Class Period,
defendants made false and misleading statements about General
Growth's access to financing, wherein defendants represented
that General Growth had the ability to refinance billions of
dollars in debt that was coming due in the fall of 2008 and
spring of 2009 on acceptable terms. In fact, General Growth did
not have access to such financing.
Further, defendants failed to disclose that the Company's
President/Chief Operating Officer and its Chief Financial
Officer had received loans from the Chief Executive Officer's
family trust in violation of the Company's own Code of Business
Conduct and Ethics.
On September 22, 2008, the Company announced that it was
pursuing a comprehensive evaluation of its financial and
strategic alternatives. On October 3, 2008, the Company
suspended its dividend and then, on October 27, 2008, announced
it was marketing for sale its portfolio of retail properties in
Las Vegas. On this series of disclosures, General Growth's stock
price collapsed, falling from $21.42 on September 19, 2008 to
less than $2.00 per share on October 27, 2008, or nearly 95%
from its Class Period high of $43.83 per share.
For more details, contact:
Roy L. Jacobs, Esq.
Roy Jacobs & Associates
Phone: 1-888-884-4490
e-mail: rjacobs@jacobsclasslaw.com
NOAH EDUCATION: Wolf Haldenstein Files Securities Suit in N.Y.
--------------------------------------------------------------
The law firm of Wolf Haldenstein Adler Freeman & Herz LLP
today filed a class action lawsuit in the United States District
Court, Southern District of New York, on behalf of all persons
who purchased the American Depository Shares ("ADS") of Noah
Education Holdings Ltd. from the date of the Company's public
offering on October 18, 2007 (the "Offering"), and all
purchasers traceable thereto (the "Class Period"), against the
Company, certain of its officers and directors, and the
Underwriters of the public offering alleging violations under
Sections 11 and 15 of the Securities Act of 1933 (the
"Securities Act"), 15 U.S.C. 77k, 77l and 77o (the "Class").
The Complaint asserts that Noah's Prospectus contained both
material misstatements and omissions, which Plaintiff and the
Class relied upon to their detriment. The representations made
in the Company's Prospectus were materially false and misleading
because at the time of the Offering, Noah was already suffering
from several adverse factors that were not revealed and/or
adequately addressed in the document.
These factors include, but are not limited to:
-- the increased purchasing cost of flash chips, an
essential component of the Company's hand-held digital
learning devices ("DLD");
-- the increased purchasing cost of memory boards, an
essential component of DLDs; and,
-- the failure of the Company to adequately protect
itself against the rise in purchasing costs of
essential DLD components.
These factors were already causing a material adverse
affect on Noah's business and directly led to Noah's November
19, 2007 announcement that its gross profit margin had decreased
from 59.4% to 50.2%.
The complaint further alleges that the Defendants could
have -- and should have -- discovered the material misstatements
and omissions in the Company's Prospectus prior to its filing
with the SEC and distribution to the investing public. Instead,
they failed to do so as a result of a negligent and grossly
inadequate due diligence investigation.
Certain of the adverse factors affecting Noah's business
were first revealed on November 19, 2007, in a Company issued
press release announcing a sharp decrease in gross profit
margin, "primarily attributable to an increase in the purchasing
cost of certain raw material components of DLDs such as flash
chips and memory boards, during July and August."
As a result of the dissemination of the false and
misleading statements set forth in the complaint, the market
price of Noah ADS was artificially inflated during the Class
Period. In ignorance of the false and misleading nature of the
statements described in the Complaint, and the deceptive and
manipulative devices and contrivances employed by said
defendants, plaintiffs and the other members of the Class
relied, to their detriment, on the integrity of the market price
of Noah ADS. Had plaintiffs and the other members of the Class
known the truth, they would not have purchased said ADS, or
would not have purchased them at the inflated prices that were
paid.
The case name is styled, "Sebik v. Noah Education Holdings
Ltd., et al."
For more details, contact:
Gregory M. Nespole, Esq.
Gustavo Bruckner, Esq.
Martin Restituyo, Esq.
Wolf Haldenstein Adler Freeman & Herz LLP
Phgone: 800-575-0735
e-mail: classmember@whafh.com
Web site: http://www.whafh.com
SADIA S.A.: Saxena White Files Securities Fraud Suit in N.Y.
------------------------------------------------------------
The law firm of Saxena White P.A. has filed suit on behalf
of shareholders of Sadia S.A. ("Sadia" or the "Company") (NYSE:
SDA) (BOVESPA: SDIA4) in the United States District Court for
the Southern District of New York.
The complaint seeks damages for violations of federal
securities laws on behalf of all investors who purchased Sadia
S.A. American Depository Receipts (ADRs) and/or common stock
between May 1, 2008 through September 26, 2008, inclusive (the
"Class Period"). Sadia is a producer and marketer of food
products and exports their products throughout the world.
During the Class Period, Sadia entered into undisclosed
currency derivative contracts to purportedly hedge against the
Company's U.S. dollar exposure. The Company characterized the
amounts of these contracts as "nominal."
However, these contracts violated Company policy in that
they were far larger than necessary to hedge normal business
operations and resulted in a loss of $365 million.
As a result of Defendants' admission of violating Company
policy regarding currency hedging, the American Depository
Receipts of Sadia S.A. closed at $9.50 per share, down from the
previous day's close of $15.27, a decline of 38%.
For more details, contact:
Joseph E. White, III, Esq.
Greg Stone, Esq.
Saxena White P.A.
2424 North Federal Highway
Suite 257
Boca Raton, FL 33431
Phone: (561) 394-3399
Fax: (561) 394-3382
Web site: http://www.saxenawhite.com
Asbestos Alerts
ASBESTOS LITIGATION: Supreme Court Favors Board in Ciafone Case
----------------------------------------------------------------
The Supreme Court, Appellate Division, Third Department, New
York, upheld the Workers' Compensation Board Feb. 2, 2006
ruling, which ruled that the death of Isabel A. Ciafone's
decedent was not causally related to his employment and denied
her claim for workers' compensation death benefits.
The case is styled In the Matter of the Claim of Isabel A.
Ciafone, Appellant v. Consolidated Edison of New York et al.,
Respondents. Workers' Compensation Board, Respondent.
Judges Anthony V. Cardona, Anthony J. Carpinello, Robert S.
Rose, Anthony T. Kane, and E. Michael Kavanagh entered judgment
in Case No. 2008502178 on Sept. 25, 2008.
Ms. Ciafone's decedent was employed primarily as a gas line
repairman for the employer from 1964 to 1995, during which time
he was exposed to asbestos and other chemicals.
Shortly before his death in 1995, decedent was diagnosed with
pancreatic cancer, precipitating the instant claim for workers'
compensation death benefits.
After a series of hearings, a Workers' Compensation Law Judge
rendered a decision finding no causal relationship between
decedent's death and his employment and the Workers'
Compensation Board affirmed that decision.
Ms. Ciafone appealed the ruling, which the Supreme Court
affirmed.
John J. Ciafone, New York City, represented Isabel Ciafone.
Lawrence Komsky, Esq., in Cedarhurst, N.Y., represented
Consolidated Edison of New York and another, respondents.
ASBESTOS LITIGATION: N.Y. Court Upholds Settlement in Dana Case
----------------------------------------------------------------
The U.S. District Court, Southern District of New York, affirmed
a Nov. 15, 2007 Settlement Order issued by the U.S. Bankruptcy
Court, in Dana Corporation's former bankruptcy case.
The Clerk was directed to close the case.
The case is styled Ad Hoc Committee of Personal Injury Asbestos
Claimants, Appellant v. Dana Corporation, Appellee, which is
part of Dana Corporation's bankruptcy.
District Judge John G. Koeltl entered judgment in Case No. 08
Civ. 00020(JGK) on Sept. 22, 2008.
On Nov. 15, 2007, U.S. Bankruptcy Judge Burton R. Lifland issued
an Order approving four settlement agreements between Dana and
certain asbestos personal injury attorneys on behalf of 7,500
asbestos personal injury claimants.
The Order followed an Evidentiary Hearing on the matter that had
also taken place on Nov. 15, 2007. The Ad Hoc Committee of
Asbestos Personal Injury Claimants appealed from the Order. The
Committee currently consists of five personal injury claimants.
On March 3, 2006, Dana and forty of its direct and indirect
subsidiaries filed voluntary petitions for relief under Chapter
11, Title 11 of the U.S. Bankruptcy Code.
The debtors filed their Third Amended Joint Plan of
Reorganization of Debtors and Debtors in Possession and the
related Disclosure Statement on Oct. 23, 2007. Dana filed an
unopposed Motion for an Order Authorizing It to File Settlement
Agreements with Certain Asbestos Personal-Injury Plaintiffs
Under Seal on Oct. 25, 2007.
The Bankruptcy Court granted Dana's motion on Oct. 26, 2007,
issuing an Order Authorizing Debtor Dana Corporation to File
Settlement Agreements with Certain Asbestos-Related Personal
Injury Plaintiffs Under Seal.
Dana then moved for an Order Approving Certain Settlement
Agreements Between Dana Corporation and Certain Asbestos-Related
Personal Injury Plaintiffs. The Committee filed an objection and
moved to continue the hearing on the settlement agreements until
it had the chance to review them.
The bankruptcy court conducted an Evidentiary Hearing on the
settlement Motion on Nov. 15, 2007. At the conclusion of the
Hearing, the bankruptcy court overruled the Committee's
Objection and approved the settlement agreements.
The Committee appealed the Settlement Order on Nov. 23, 2007,
and amended the appeal on Nov. 26, 2007.
The Bankruptcy Court confirmed the Plan on Dec. 26, 2007. On
Jan. 31, 2008, under the Plan and Confirmation Order, Dana
emerged from Chapter 11 as a reorganized Debtor.
ASBESTOS LITIGATION: Crane Cites $877.75M Liability at Sept. 30
----------------------------------------------------------------
Crane Co.'s long-term asbestos liability was US$877,754,000 as
of Sept. 30, 2008, compared with US$942,776,000 as of Dec. 31,
2007, according to a Company report, on Form 8-K, filed with the
Securities and Exchange Commission on Oct. 28, 2008.
The Company's long-term asbestos liability was US$904,469,000 as
of June 30, 2008. (Class Action Reporter, Aug. 1, 2008)
The Company's long-term liability was US$84 million as of Sept.
30, 2008, the same as for the period ended Dec. 31, 2007.
The Company's long-term asbestos insurance receivable was
US$276,449,000 as of Sept. 30, 2008, compared with
US$306,557,000 as of Dec. 31, 2007.
The Company's long-term asbestos insurance receivable was
US$284,864,000 as of June 30, 2008. (Class Action Reporter, Aug.
1, 2008)
The Company's current asbestos insurance receivable was US$33.6
million, the same as for the period ended Dec. 31, 2008.
Asbestos-related payments, net of insurance recoveries, were
US$18,301,000 for the three months ended Sept. 30, 2008,
compared with US$7,897,000 for the three months ended Sept. 30,
2007.
Asbestos-related payments, net of insurance recoveries, were
US$34,915,000 for the nine months ended Sept. 30, 2008, compared
with US$24,189,000 for the nine months ended Sept. 30, 2007.
Stamford, Conn.-based Crane Co. manufactures highly engineered
industrial products. Founded in 1855, the Company provides
products and solutions to customers in the aerospace,
electronics, hydrocarbon processing, petrochemical, chemical,
power generation, automated merchandising, transportation and
other markets. The Company has about 12,000 employees in North
America, South America, Europe, Asia and Australia.
ASBESTOS LITIGATION: Crane Co. Records 76,181 Claims at Sept. 30
----------------------------------------------------------------
Crane Co. faced 76,181 asbestos-related claims as of Sept. 30,
2008, compared with 81,251 claims as of Sept. 30, 2007,
according to a Company report, on Form 8-K, filed with the
Securities and Exchange Commission on Oct. 28, 2008.
The Company faced 81,979 asbestos-related claims as of June 30,
2008, compared with 84,652 pending claims as of June 30, 2007.
(Class Action Reporter, Aug. 1, 2008)
As of Sept. 30, 2008, the Company faced cases filed in various
state and federal courts alleging injury or death as a result of
exposure to asbestos.
During the three months ended Sept. 30, 2008, the Company
recorded 936 new claims filed, 323 settlements, and 6,411
dismissals.
During the three months ended Sept. 30, 2007, the Company
recorded 694 new claims filed, 109 settlements, and 3,986
dismissals.
Of the 76,181 pending claims as of Sept. 30, 2008, about 25,000
claims were pending in New York, about 18,500 claims were
pending in Mississippi, about 9,400 claims were pending in Texas
and about 3,800 claims were pending in Ohio.
Substantially all of the claims the Company resolves are
concluded through settlements. The Company tried the Joseph
Norris asbestos claim to verdict in California, however, and
received an adverse jury verdict on Sept. 15, 2006.
On Oct. 10, 2006, the court entered judgment on this verdict
against the Company in the amount of US$2.15 million, together
with interest thereon at the rate of 10 percent per annum until
paid.
The Company appealed the judgment, and on June 25, 2008, the
Supreme Court of California declined to review an appellate
court ruling adverse to the Company.
The final judgment amount of US$2.54 million was paid on July
14, 2008.
Stamford, Conn.-based Crane Co. manufactures highly engineered
industrial products. Founded in 1855, the Company provides
products and solutions to customers in the aerospace,
electronics, hydrocarbon processing, petrochemical, chemical,
power generation, automated merchandising, transportation and
other markets. The Company has about 12,000 employees in North
America, South America, Europe, Asia and Australia.
ASBESTOS LITIGATION: Crane Incurs $71.1M for Settlement, Defense
----------------------------------------------------------------
The gross settlement and defense costs incurred (before
insurance recoveries and tax effects) for Crane Co. totaled
US$71.1 million in the nine-month period ended Sept. 30, 2008,
compared with US$64.7 million in the nine-month period ended
Sept. 30, 2007.
The gross settlement and defense costs incurred (before
insurance recoveries and tax effects) for the Company totaled
US$43.4 million in the six months ended June 30, 2008 and
US$41.3 million for the six months ended June 30, 2007. (Class
Action Reporter, Aug. 1, 2007)
The Company's total pre-tax cash receipts/payments for
settlement and defense costs, including payments from insurers,
totaled a US$34.9 million net payment in the nine-month period
ended Sept. 30, 2008 and a US$$7.3 million net receipt
(reflecting the January 2007 receipt of US$31.5 million in
previously escrowed funds from Equitas) in the nine-month period
ended Sept. 30, 2007.
Stamford, Conn.-based Crane Co. manufactures highly engineered
industrial products. Founded in 1855, the Company provides
products and solutions to customers in the aerospace,
electronics, hydrocarbon processing, petrochemical, chemical,
power generation, automated merchandising, transportation and
other markets. The Company has about 12,000 employees in North
America, South America, Europe, Asia and Australia.
ASBESTOS LITIGATION: Baccus' Verdict Still Pending in Pa. Court
----------------------------------------------------------------
Crane Co. has filed a post-trial motion asserting numerous
errors in the trial proceedings of James Baccus' asbestos
lawsuit, and no judgment has been entered on the trial verdict.
During the fourth quarter of 2007 and the first quarter of 2008,
the Company tried several cases resulting in defense verdicts by
the jury or directed verdicts for the defense by the court.
However, on March 14, 2008, the Company received an adverse
verdict in the James Baccus claim in Philadelphia, with
compensatory damages of US$2.45 million and additional damages
of US$11.9 million.
The Company intends to pursue all available rights to appeal the
verdict.
Stamford, Conn.-based Crane Co. manufactures highly engineered
industrial products. Founded in 1855, the Company provides
products and solutions to customers in the aerospace,
electronics, hydrocarbon processing, petrochemical, chemical,
power generation, automated merchandising, transportation and
other markets. The Company has about 12,000 employees in North
America, South America, Europe, Asia and Australia.
ASBESTOS LITIGATION: Crane Files Post-Trial Bids in Brewer Suit
----------------------------------------------------------------
Crane Co. says that it is pursuing post-trial motions and an
appeal in an asbestos-related lawsuit filed by Chief Brewer.
On May 16, 2008 the Company received an adverse verdict in the
Chief Brewer claim in Los Angeles.
The amount of the judgment entered was about US$679,000 plus
interest and costs.
Such judgment amounts are not included in the Company's incurred
costs until available appeals are exhausted and the final
payment amount is determined.
Stamford, Conn.-based Crane Co. manufactures highly engineered
industrial products. Founded in 1855, the Company provides
products and solutions to customers in the aerospace,
electronics, hydrocarbon processing, petrochemical, chemical,
power generation, automated merchandising, transportation and
other markets. The Company has about 12,000 employees in North
America, South America, Europe, Asia and Australia.
ASBESTOS LITIGATION: Hercules Has $211.3M Liability at Sept. 30
----------------------------------------------------------------
Hercules Incorporated's long-term asbestos-related liabilities
were US$211.3 million as of Sept. 30, 2008, compared with US$227
million as of Dec. 31, 2007, according to the Company's
quarterly report filed with the Securities and Exchange
Commission on Oct. 28, 2008.
The Company's current asbestos-related liabilities were US$28
million as of Sept. 30, 2008, the same as for the period ended
Oct. 31, 2008.
The Company's asbestos-related assets were US$4 million as of
Sept. 30, 2008, compared with US$24.1 million as of Dec. 31,
2007.
Net asbestos-related assets and liabilities, which are part of
accruals and deferrals of cash receipts and payments, were
US$8.1 million in the nine months ended Sept. 30, 2008, compared
with US$46.8 million in the nine months ended Sept. 30, 2007.
Wilmington, Del.-based Hercules Incorporated manufactures and
markets chemical specialties globally for making a variety of
products for home, office and industrial markets.
ASBESTOS LITIGATION: Hercules Facing 25,563 Claims at Sept. 30
----------------------------------------------------------------
Hercules Incorporated, as of Sept. 30, 2008, faced about 25,563
unresolved claims, of which about 895 were premises claims and
the rest were products claims, according to the Company's
quarterly report filed with the Securities and Exchange
Commission on Oct. 28, 2008.
There were also about 1,745 unpaid claims which have been
settled or are subject to the terms of a settlement agreement.
Between Jan. 1, 2008 and Sept. 30, 2008, the Company received
about 1,304 new claims. During that same period, the Company
spent a net amount of US$20.7 million to resolve and defend
asbestos matters, including US$15.7 million directly related to
settlement payments and US$5 million for defense costs.
As of Sept. 30, 2008, all of the cash recovered and all of the
monies placed into trust from the settlements with certain of
the Company's insurance carriers have been used by the Company
with respect to its asbestos-related liabilities or for other
corporate purposes, except for about US$4 million remaining in
trust as of Sept. 30, 2008.
Total asbestos-related liabilities amounted to US$239.3 million
as of Sept. 30, 2008.
Asbestos trust receipts, net of insurance payments, were US$4.1
million in the nine months ended Sept. 30, 2008, compared with
US$46.7 million in the nine months ended Sept. 30, 2007.
Net asbestos-related costs were US$2.3 million in the three
months ended Sept. 30, 2008, the same as for the period ended
Sept. 30, 2007.
Net asbestos-related costs were US$7.3 million in the nine
months ended Sept. 30, 2008, compared with US$6.6 million in the
nine months ended Sept. 30, 2007.
Wilmington, Del.-based Hercules Incorporated manufactures and
markets chemical specialties globally for making a variety of
products for home, office and industrial markets.
ASBESTOS LITIGATION: Hercules Anticipates $35M Cash for Asbestos
----------------------------------------------------------------
Hercules Incorporated, during 2008, anticipates the total cash
requirements for asbestos-related litigation matters to be about
US$35 million.
Of the total, about US$26 million is projected for settlements
and US$9 million is projected for defense costs. It is currently
anticipated that all of the funds remaining in the trust will be
distributed to the Company during 2008, thereby terminating the
trust.
As a result, from and after the time that the trust is
terminated, the Company will be required to fully fund its
asbestos settlements and related defense costs and legal fees
from its cash from operations and other available financial
resources until such time, if any, that the reimbursement
obligations under the Future Coverage Agreement are triggered
based on cumulative asbestos products litigation-related
expenditures.
Depending upon the magnitude of future settlement and defense
costs, substantial reimbursement under such agreement is not
anticipated for at least several years, and once such
reimbursement begins, it is anticipated that the levels of
reimbursement will vary considerably over time.
Wilmington, Del.-based Hercules Incorporated manufactures and
markets chemical specialties globally for making a variety of
products for home, office and industrial markets.
ASBESTOS LITIGATION: Cases v. U.S. Steel Rise to 415 at Sept. 30
----------------------------------------------------------------
United States Steel Corporation, as of Sept. 30, 2008, was a
defendant in about 415 active cases involving about 3,020
plaintiffs, according to the Company's quarterly report filed
with the Securities and Exchange Commission on Oct. 28, 2008.
The Company, as of June 30, 2008, faced about 350 active
asbestos cases involving about 2,950 plaintiffs. (Class Action
Reporter, Aug. 1, 2008)
Many of these cases involve multiple defendants (typically from
50 to more than 100). About 2,600 or about 86 percent, of these
claims, are currently pending in jurisdictions, which permit
filings with massive numbers of plaintiffs.
During the nine months ended Sept. 30, 2008, the Company paid
about US$11 million in settlements. These settlements and other
dispositions resolved about 340 claims. New case filings in the
first nine months of 2008 added about 360 claims.
At Dec. 31, 2007, the Company was a defendant in about 325
active cases involving about 3,000 plaintiffs. During 2007, the
Company paid about US$9 million in settlements. These
settlements and other dispositions resolved about 1,230 claims.
New case filings in 2007 added about 530 claims.
Most claims filed in 2007 and 2008 involved individual or small
groups of claimants as many jurisdictions no longer permit the
filing of mass complaints.
These asbestos cases allege a variety of respiratory and other
diseases based on alleged exposure to asbestos. The Company is
currently a defendant in cases in which a total of about 175
plaintiffs allege that they are suffering from mesothelioma.
The potential for damages against defendants may be greater in
cases in which the plaintiffs can prove mesothelioma.
Pittsburgh-based United States Steel Corporation produces and
sells steel mill products, including flat-rolled and tubular, in
North America and Central Europe. Operations in North America
also include iron ore mining and processing to supply steel
producing units; real estate management and development;
transportation services; and engineering and consulting
services.
ASBESTOS LITIGATION: Flowserve Corp. Still Facing Injury Actions
----------------------------------------------------------------
Flowserve Corporation continues to be a defendant in a number of
pending lawsuits (which include, in many cases, multiple
claimants) that seek to recover damages for personal injury
allegedly caused by exposure to asbestos-containing products
manufactured and distributed by the Company in the past.
While the aggregate number of asbestos-related claims against
the Company has declined in recent years, there can be no
assurance that this trend will continue.
Asbestos-containing materials incorporated into any such
products was primarily encapsulated and used only as components
of process equipment, and the Company does not believe that any
significant emission of asbestos-containing fibers occurred
during the use of this equipment.
Irving, Tex.-based Flowserve Corporation's products include
pumps, valves, seals, automation and aftermarket services in
support of global infrastructure industries, including oil and
gas, chemical, power generation and water management, and
general industrial markets.
ASBESTOS LITIGATION: Union Carbide Has $120M Current Liabilities
----------------------------------------------------------------
Union Carbide Corporation's current asbestos-related liabilities
were US$120 million as of Sept. 30, 2008, compared with US$141
million as of Dec. 31, 2007, according to the Company's
quarterly report filed with the Securities and Exchange
Commission on Oct. 28, 2008.
The Company's current asbestos-related liabilities were US$123
million as of June 30, 2008. (Class Action Reporter, Aug. 8,
2008)
Non-current asbestos-related liabilities were US$904 million as
of Sept. 30, 2008, compared with US$1.001 billion as of Dec. 31,
2007.
Non-current asbestos-related insurance receivables were US$662
million as of Sept. 30, 2008, compared with US$696 million as of
Dec. 31, 2007.
A subsidiary of The Dow Chemical Company, Houston-based Union
Carbide Corporation produces building-block chemicals like
ethylene and propylene, which are converted into the most widely
used plastics resins: polyethylene and polypropylene. The
Company also produces ethylene oxide and ethylene glycol used to
make polyester fibers and antifreeze.
ASBESTOS LITIGATION: 82,823 Claims Pending Against Union Carbide
----------------------------------------------------------------
Union Carbide Corporation faced 82,823 unresolved asbestos
claims at Sept. 30, 2008, compared with 103,902 claims at Sept.
30, 2007, according to the Company's quarterly report filed with
the Securities and Exchange Commission on Oct. 28, 2007.
The Company recorded 88,694 unresolved asbestos claims filed
against it at June 30, 2008, compared with 104,240 claims at
June 30, 2007. (Class Action Reporter, Aug. 8, 2008)
As of Sept. 30, 2008, the Company noted 8,357 claims filed and
15,856 claims settled, dismissed, or otherwise resolved.
Claimants with cases against both the Company and a former
subsidiary (Amchem Products, Inc.) were at 26,184 and individual
claimants were at 56,639.
As of Sept. 30, 2007, the Company noted 7,696 claims filed and
15,681 claims settled, dismissed, or otherwise resolved.
Claimants with cases against both the Company and Amchem were at
35,114 and individual claimants were at 68,788.
The Company is and has been involved in a large number of
asbestos-related suits filed primarily in state courts during
the past three decades. These suits principally allege personal
injury resulting from exposure to asbestos-containing products
and frequently seek both actual and punitive damages.
The alleged claims primarily relate to products that the Company
sold in the past, alleged exposure to asbestos-containing
products located on Company premises, and the Company's
responsibility for asbestos suits filed against Amchem.
In many cases, plaintiffs are unable to demonstrate that they
have suffered any compensable loss as a result of such exposure,
or that injuries incurred in fact resulted from exposure to the
Company's products.
At Dec. 31, 2007, the Company's asbestos-related liability for
pending and future claims was US$1.1 billion. At Dec. 31, 2007,
about 31 percent of the recorded liability related to pending
claims and about 69 percent related to future claims.
Based on its review of 2008 activity, the Company determined
that no adjustment to the accrual was required at Sept. 30,
2008. The Company's asbestos-related liability for pending and
future claims was US$1 billion at Sept. 30, 2008.
About 27 percent of the recorded liability related to pending
claims and about 73 percent related to future claims.
A subsidiary of The Dow Chemical Company, Houston-based Union
Carbide Corporation produces building-block chemicals like
ethylene and propylene, which are converted into the most widely
used plastics resins: polyethylene and polypropylene. The
Company also produces ethylene oxide and ethylene glycol used to
make polyester fibers and antifreeze.
ASBESTOS LITIGATION: UCC Records $127M Defense, Resolution Costs
----------------------------------------------------------------
Union Carbide Corporation, in the nine months ended Sept. 30,
2008, recorded US$127 million, in which US$37 million were for
defense costs and US$90 million were for resolution costs.
In the nine months ended Sept. 30, 2007, the Company recorded
US$106 million, in which US$58 million were for defense costs
and US$48 million were for resolution costs.
The average resolution payment per asbestos claimant and the
rate of new claim filings has fluctuated both up and down since
the beginning of 2001.
The pretax impact for defense and resolution costs, net of
insurance, was US$14 million in the third quarter of 2008 (US$16
million in the third quarter of 2007) and US$30 million in the
first nine months of 2008 (US$58 million in the first nine
months of 2007).
A subsidiary of The Dow Chemical Company, Houston-based Union
Carbide Corporation produces building-block chemicals like
ethylene and propylene, which are converted into the most widely
used plastics resins: polyethylene and polypropylene. The
Company also produces ethylene oxide and ethylene glycol used to
make polyester fibers and antifreeze.
ASBESTOS LITIGATION: Union Carbide Has $415M Sept. 30 Receivable
----------------------------------------------------------------
Union Carbide Corporation's receivable for insurance recoveries
related to its asbestos liability was US$415 million at Sept.
30, 2008 and US$467 million at Dec. 31, 2007.
The Company's receivable for insurance recoveries related to its
asbestos liability was US$465 million at June 30, 2008. (Class
Action Reporter, Aug. 8, 2008)
At Sept. 30, 2008 and Dec. 31, 2007, all of the receivable for
insurance recoveries was related to insurers that are not
signatories to the 1985 Wellington Agreement and/or do not
otherwise have agreements in place regarding their asbestos-
related insurance coverage.
In addition to the receivable for insurance recoveries related
to its asbestos liability, the Corporation had receivables for
defense and resolution costs submitted to insurance carriers for
reimbursement.
As of Sept. 30, 2008, the Company recorded US$280 million, in
which US$35 million were receivables for defense costs and
US$245 million for resolution costs.
As of Dec. 31, 2007, the Company recorded US$271 million, in
which US$18 million were receivables for defense costs and
US$253 million for resolution costs.
A subsidiary of The Dow Chemical Company, Houston-based Union
Carbide Corporation produces building-block chemicals like
ethylene and propylene, which are converted into the most widely
used plastics resins: polyethylene and polypropylene. The
Company also produces ethylene oxide and ethylene glycol used to
make polyester fibers and antifreeze.
ASBESTOS LITIGATION: Union Carbide Inks Settlements in N.Y. Case
----------------------------------------------------------------
Union Carbide Corporation, through the end of the third quarter
of 2008, has reached settlements with several of the carriers
involved in an asbestos insurance action filed in New York.
The lawsuit is still continuing.
In September 2003, the Company filed a comprehensive insurance
coverage case, now proceeding in the Supreme Court of the State
of New York, County of New York, seeking to confirm its rights
to insurance for various asbestos claims and to facilitate an
orderly and timely collection of insurance proceeds.
This lawsuit was filed against insurers that are not signatories
to a 1985 Wellington Agreement and/or do not otherwise have
agreements in place with the Corporation regarding their
asbestos-related insurance coverage, in order to facilitate an
orderly resolution and collection of such insurance policies and
to resolve issues that the insurance carriers may raise.
A subsidiary of The Dow Chemical Company, Houston-based Union
Carbide Corporation produces building-block chemicals like
ethylene and propylene, which are converted into the most widely
used plastics resins: polyethylene and polypropylene. The
Company also produces ethylene oxide and ethylene glycol used to
make polyester fibers and antifreeze.
ASBESTOS LITIGATION: Ashland Inc.'s Claims Reserve Totals $522M
----------------------------------------------------------------
Ashland Inc.'s non-current asbestos litigation reserve was
US$522 million at Sept. 30, 2008, compared with US$458 million
at Sept. 30, 2007, according to a Company report, on Form 8-K,
filed with the Securities and Exchange Commission on Oct. 28,
2008.
The Company's non-current asbestos litigation reserve was US$530
million at June 30, 2008, compared with US$567 million at June
30, 2007. (Class Action Reporter, Aug. 1, 2008)
The Company's non-current asbestos litigation reserves were
US$522 million at Sept. 30, 2008, compared with US$560 million
at Sept. 30, 2007.
The Company's non-current asbestos insurance receivable was
US$438 million at June 30, 2008, compared with US$460 million at
June 30, 2007. (Class Action Reporter, Aug. 1, 2008)
Covington, Ky.-based Ashland Inc., a diversified chemical
company, provides quality products, services and solutions to
customers in more than 100 countries. The Company operates
through four divisions: Ashland Performance Materials, Ashland
Distribution, Valvoline and Ashland Water Technologies.
ASBESTOS LITIGATION: Diamond Offshore Still Facing Miss. Actions
----------------------------------------------------------------
Diamond Offshore Drilling, Inc. continues to face asbestos-
related lawsuits filed in the Circuit Courts of the State of
Mississippi.
The suits allege that defendants manufactured, distributed or
utilized drilling mud containing asbestos and, in the Company's
case, allowed such drilling mud to have been utilized aboard the
Company's offshore drilling rigs.
The plaintiffs seek an award of unspecified compensatory and
punitive damages.
The Company expects to receive complete defense and indemnity
from Murphy Exploration & Production Company under the terms of
the Company's 1992 asset purchase agreement with them.
Houston-based Diamond Offshore Drilling, Inc. is a contract
offshore oil and gas driller capable of descending depths of
7,500 feet. The Company has 30 semisubmersibles, 13 jack-up rigs
(mobile drilling platforms), and one drillship. The Company
contracts with major oil and gas companies, including Anadarko
Petroleum and PETROBRAS.
ASBESTOS LITIGATION: Eastman Chem. Still Facing Exposure Actions
----------------------------------------------------------------
Eastman Chemical Company, along with other defendants, continues
to face lawsuits in various state courts in which plaintiffs
have alleged injury due to exposure to asbestos at the Company's
manufacturing sites.
Additionally, certain plaintiffs have claimed exposure to an
asbestos-containing plastic, which the Company manufactured in
limited amounts between the mid-1960s and the early 1970s.
To date, the Company has obtained dismissals or settlements of
its asbestos-related lawsuits and has substantially reduced its
number of pending asbestos-related claims.
The Company has also obtained insurance coverage that applies to
a portion of certain of the Company's defense costs and payments
of settlements or judgments in connection with asbestos-related
lawsuits.
Kingsport, Tenn.-based Eastman Chemical Company, once a part of
Eastman Kodak Company, has developed into a producer of
chemicals, fibers, and plastics.
ASBESTOS LITIGATION: Lincoln Facing Actions w/ 27,115 Plaintiffs
----------------------------------------------------------------
Lincoln Electric Holdings, Inc., at Sept. 30, 2008, was a co-
defendant in cases alleging asbestos induced illness involving
claims by 27,115 plaintiffs, which is a net decrease of 819
claims from those previously reported.
At June 30, 2008, the Company was a co-defendant in cases
alleging asbestos induced illness involving claims by about
27,934 plaintiffs, which is a net decrease of 386 claims from
those previously reported. (Class Action Reporter, Aug. 8, 2008)
In each instance, the Company is one of a large number of
defendants. The asbestos claimants seek compensatory and
punitive damages, in most cases for unspecified sums.
Since Jan. 1, 1995, the Company has been a co-defendant in other
similar cases that have been resolved as follows: 28,315 of
those claims were dismissed, 11 were tried to defense verdicts,
four were tried to plaintiff verdicts, one was resolved by
agreement for an immaterial amount and 551 were decided in favor
of the Company following summary judgment motions.
Cleveland, Ohio-based Lincoln Electric Holdings, Inc. designs
and manufactures arc welding and cutting products, manufacturing
a full line of arc welding equipment, consumable welding
products and other welding and cutting products.
ASBESTOS LITIGATION: Rogers Cites $19.3Mil Liability at Sept. 28
----------------------------------------------------------------
Rogers Corporation's current asbestos-related liabilities were
US$19,341,000 at Sept. 28, 2008, the same as for the period
ended Dec. 30, 2008, according to a Company report, on Form 8-K,
filed with the Securities and Exchange Commission on Oct. 29,
2008.
The Company's current asbestos-related liabilities were
US$4,303,000 at Sept. 30, 2008, the same as for the period ended
Dec. 30, 2008.
The Company's long-term asbestos-related insurance receivables
were US$19,149,000 at Sept. 28, 2008, the same as for the period
ended Dec. 30, 2008.
The Company's current asbestos-related insurance receivables
were US$4,303,000 at Sept. 30, 2008, the same as for the period
ended Dec. 30, 2008.
Rogers Corporation develops and manufactures high performance,
specialty-material-based products for applications in diverse
markets including: portable communications, communications
infrastructure, computer and office equipment, consumer
products, ground transportation, aerospace and defense. The
Company is headquartered in Rogers, Conn.
ASBESTOS LITIGATION: Sealed Air Corp. Reports $698.6M Liability
----------------------------------------------------------------
Sealed Air Corporation's current asbestos settlement liability
and related accrued interest was US$698.6 million as of Sept.
30, 2008, compared with US$670.9 million as of Dec. 31, 2007.
The Company's current asbestos settlement liability and related
accrued interest was US$689.5 million as of June 30, 2008.
(Class Action Reporter, Aug. 8, 2008)
No other asbestos-related matters were disclosed in a Company
report, on Form 8-K, filed with the Securities and Exchange
Commission on Oct. 29, 2008.
Elmwood Park, N.J.-based Sealed Air Corporation manufactures
packaging and performance-based materials and equipment systems
that serve an array of food, industrial, medical, and consumer
applications. Operating in 51 countries, the Company's
international reach generated revenue of US$4.7 billion in 2007.
ASBESTOS LITIGATION: 1,400 Claims Ongoing Against Chicago Bridge
----------------------------------------------------------------
Chicago Bridge & Iron Company N.V., at Sept. 30, 2008, faced
about 1,400 pending asbestos-related claims, according to the
Company's quarterly report filed with the Securities and
Exchange Commission on Oct. 29, 2008.
Through Sept. 30, 2008, the Company has been named a defendant
in lawsuits alleging exposure to asbestos involving about 4,700
plaintiffs. Of those claims, 3,300 have been closed through
dismissals or settlements.
The Company is a defendant in lawsuits wherein plaintiffs allege
exposure to asbestos due to work the Company may have performed
at various locations. The Company has never been a manufacturer,
distributor or supplier of asbestos products.
Through Sept. 30, 2008, the claims alleging exposure to asbestos
that have been resolved have been dismissed or settled for an
average settlement amount per claim of about US$1,000.
At Sept. 30, 2008, the Company had accrued US$2,362,000 for
liability and related expenses.
At June 30, 2008, the Company faced about 1,500 pending
asbestos-related claims. (Class Action Reporter, Aug. 22, 2008)
Based in The Hague, The Netherlands, Chicago Bridge & Iron
Company N.V. is an integrated engineering, procurement and
construction (EPC) provider and major process technology
licensor. Founded in 1889, the Company provides conceptual
design, technology, engineering, procurement, fabrication,
construction, commissioning, and associated maintenance services
to customers in the energy and natural resource industries.
ASBESTOS LITIGATION: Navigators Has $16.66M Reserves at Sept. 30
----------------------------------------------------------------
The Navigators Group, Inc.'s net loss and loss adjustment
expense reserves for its asbestos exposures were US$16,661,000
for the nine months ended Sept. 30, 2008, compared with
US$16,717,000 for the year ended Dec. 31, 2007.
The Company's gross net loss and LAE reserves for its asbestos
exposures were US$21,754,000 for the nine months ended Sept. 30,
2008, compared with US$23,194,000 for the year ended Dec. 31,
2007.
The Company's net loss and LAE net reserves for its asbestos
exposures were US$18,637,000 for the six months ended June 30,
2008 and US$16,717,000 for the year ended Dec. 31, 2007. (Class
Action Reporter, Aug. 8, 2008)
The ceded asbestos paid and unpaid recoverables were US$9.4
million at Sept. 30, 2008, compared with US$10.5 million at Dec.
31, 2007.
The Company's exposure to asbestos liability principally stems
from marine liability insurance written on an occurrence basis
during the mid-1980s. In general, the Company's participation on
those risks is in the excess layers, which requires the
underlying coverage to be exhausted prior to coverage being
triggered in the Company's layer.
In many instances, the Company is one of many insurers who
participate in the defense and ultimate settlement of these
claims and the Company is generally a minor participant in the
overall insurance coverage and settlement.
The reserves for asbestos exposures at Sept. 30, 2008 are for:
-- One large settled claim for excess insurance policy
limits exposed to a class action suit against an
insured involved in the manufacturing or distribution
of asbestos products being paid over several years (two
other large settled claims were fully paid in 2007);
-- Other insureds not directly involved in the
manufacturing or distribution of asbestos products, but
that have more than incidental asbestos exposure for
their purchase or use of products that contained
asbestos; and
-- Attritional asbestos claims that could be expected to
occur over time.
Substantially all of the Company's asbestos liability reserves
are included in the Company's marine loss reserves.
Gross reserves for losses and LAE related to asbestos exposures
increased US$2.4 million in the 2008 second quarter as a result
of an assumed loss portfolio transaction with a former pool
member. Net reserves for losses and LAE related to asbestos
exposures increased US$1.3 million.
The Navigators Group, Inc. is an international insurance holding
company focusing on specialty products for niches within the
overall property/casualty insurance market. The Company's
underwriting segments consist of insurance company operations
and operations at Lloyd's of London. The Company's largest
product line is ocean marine insurance. The Company is based in
New York.
ASBESTOS LITIGATION: BorgWarner Facing 38,000 Claims at Sept. 30
----------------------------------------------------------------
BorgWarner Inc., as of Sept. 30, 2008, had about 38,000 pending
asbestos-related product liability claims, according to the
Company's quarterly report filed with the Securities and
Exchange Commission on Oct. 29, 2008.
Of these outstanding claims, about 27,000 are pending three
jurisdictions, where significant tort reform activities are
underway.
BorgWarner Inc., as of June 30, 2008, the Company faced about
37,000 pending asbestos-related product liability claims. (Class
Action Reporter, Aug. 15, 2008)
Like many other industrial companies who have historically
operated in the U.S., the Company (or parties the Company is
obligated to indemnify) continues to be named as one of many
defendants in asbestos-related personal injury actions.
The Company's policy is to aggressively defend against these
lawsuits and the Company has been successful in obtaining
dismissal of many claims without any payment. The Company
expects that most of the pending asbestos-related product
liability claims where it is a defendant (or has an obligation
to indemnify a defendant) will result in no payment being made
by the Company or its insurers.
In the first nine months of 2008, of about 5,900 claims
resolved, 164 (2.8 percent) resulted in any payment being made
to a claimant by or on behalf of the Company. In 2007, of about
4,400 claims resolved, 194 (4.4 percent) resulted in any payment
being made to a claimant by or on behalf of the Company.
Prior to June 2004, the settlement and defense costs associated
with all claims were covered by the Company's primary layer
insurance coverage, and these carriers administered, defended,
settled and paid all claims under a funding arrangement.
In June 2004, primary layer insurance carriers notified the
Company of the alleged exhaustion of their policy limits. This
led the Company to access the next available layer of insurance
coverage.
Since June 2004, secondary layer insurers have paid asbestos-
related litigation defense and settlement expenses under a
funding arrangement. To date, the Company has paid US$42.3
million in defense and indemnity in advance of insurers'
reimbursement and has received US$12.8 million in cash from
insurers. The outstanding balance of US$29.5 million is expected
to be fully recovered.
Timing of the recovery is dependent on final resolution of the
declaratory judgment action. At Dec. 31, 2007, insurers owed
US$20.6 million in association with these claims.
At Sept. 30, 2008, the Company has an estimated liability of
US$38.8 million for future claims resolutions, with a related
asset of US$38.8 million to recognize the insurance proceeds
receivable by the Company for estimated losses related to claims
that have yet to be resolved. At Dec. 31, 2007, the comparable
value of the insurance receivable and accrued liability was
US$39.6 million.
Auburn Hills, Mich.-based BorgWarner Inc. supplies highly
engineered systems and components primarily for powertrain
applications. Products are sold worldwide, primarily to original
equipment manufacturers ("OEMs") of light vehicles (i.e.,
passenger cars, sport-utility vehicles ("SUVs"), cross-over
vehicles, vans and light-trucks). The Company's products fall
into two reporting segments: Engine and Drivetrain.
ASBESTOS LITIGATION: BorgWarner Still Facing CNA Action in Ill.
----------------------------------------------------------------
BorgWarner Inc. and certain of its historical general liability
insurers, since January 2004, have been facing an asbestos-
related declaratory judgment action filed by Continental
Casualty Company and related companies (CNA) in the Circuit
Court of Cook County, Ill.
CNA provided the Company with both primary and additional layer
insurance, and, in conjunction with other insurers, is currently
defending and indemnifying the Company in its pending asbestos-
related product liability claims.
The lawsuit seeks to determine the extent of insurance coverage
available to the Company including whether the available limits
exhaust on a "per occurrence" or an "aggregate" basis, and to
determine how the applicable coverage responsibilities should be
apportioned.
On Aug. 15, 2005, the Court issued an interim order regarding
the apportionment matter.
The interim order has the effect of making insurers responsible
for all defense and settlement costs pro rata to time-on-the-
risk, with the pro-ration method to hold the insured harmless
for periods of bankrupt or unavailable coverage.
Appeals of the interim order were denied. However, the issue is
reserved for appellate review at the end of the action.
Auburn Hills, Mich.-based BorgWarner Inc. supplies highly
engineered systems and components primarily for powertrain
applications. Products are sold worldwide, primarily to original
equipment manufacturers ("OEMs") of light vehicles (i.e.,
passenger cars, sport-utility vehicles ("SUVs"), cross-over
vehicles, vans and light-trucks). The Company's products fall
into two reporting segments: Engine and Drivetrain.
ASBESTOS LITIGATION: 40 Railton Cement Exposure Actions Settled
----------------------------------------------------------------
It was revealed that 40 asbestos and respiratory illness victims
linked to the Cement Australia Railton factory in Tasmania,
Australia, settled compensation actions, The Advocate reports.
However, Australian Workers Union national occupational health
and safety coordinator Dr. Yossi Berger says he suspects many of
the confidential cases linked to the Cement Australia factory
(previously Goliath Cement when asbestos was produced) have been
"poorly settled" compared with larger mainland class action
payouts.
Dr. Berger said about 3000 workers had worked at the factory
between 1947 and the late 1980s. He added that an upcoming
survey, to be conducted by Monash University on behalf of the
Company and AWU, might uncover further cases.
Dr. Berger said, "I dread to think what we will find out and
it's for those reasons that I'm grateful the government is
thinking about a much broader project on the one hand, and
Cement Australia is finally working towards some wisdom."
The Goliath asbestos factory was closed in 1987.
The site has since undergone several ownership changes, now
being owned by Cement Australia.
ASBESTOS LITIGATION: Rochester Action Filed v. 56 Firms in Texas
----------------------------------------------------------------
On behalf of Augustus Rochester's estate, Lois Rochester, on
Oct. 7, 2008, filed an asbestos lawsuit against A.W. Chesterton
Company and 55 other companies in Orange County District Court,
Tex., The Southeast Texas Record reports.
The suit claims the corporate defendants maliciously inflicted
Ms. Rochester's benefactor with an asbestos illness.
According to the plaintiff's original petition, companies such
as Viacom Inc., General Electric Company, and Zurn Industries
knew that the asbestos products they made would hit the market
without inspection for defects.
The suit says the defendants have been in possession of medical
and scientific data exposing the health risks of asbestos for
decades, but conspired among themselves to suppress the
information.
Ms. Rochester is suing for physical pain and suffering in the
past and future, mental anguish in the past and future, lost
wages, loss of earning capacity, disfigurement in the past and
future, physical impairment in the past and future, and past and
future medical expenses, including home care costs. She also
seeks punitive and exemplary damages.
Lou Thompson Black, Esq., of Brent Coon and Associates
represents Ms. Rochester.
Case No. B-080365-c has been assigned to Judge Dennis Powell of
the 163rd Judicial District.
ASBESTOS LITIGATION: Dobbs Lawsuit v. 3 Companies Filed in Texas
----------------------------------------------------------------
Peggy Dobbs, of Bacliff, Tex., filed an asbestos-related lawsuit
against Union Carbide Corporation, Foster Wheeler Corporation,
and Ingersoll-Rand Company Limited in Galveston County District
Court, Tex., on Oct. 22, 2008, The Southeast Texas Record
reports.
Foster Wheeler and Ingersoll-Rand are named product defendants
while Union Carbide is tagged a premise and product defendant.
Mrs. Dobbs says Union Carbide, Foster Wheeler, and Ingersoll-
Rand "have been engaged in the processing and/or manufacturing,
sale, and distribution of asbestos and asbestos-containing
products" that caused DeVaughn Chumbley Dobbs to develop and
succumb to mesothelioma.
According to Mrs. Dobbs' lawsuit, Mr. Dobbs experienced
reportedly unsafe working conditions "at job sites in and around
Texas and other states" during his lengthy stint as a journeyman
laborer.
The suit further states "decedent was directed and controlled in
all health and safety matters in whole or in part by the owners
and operators of the premises."
The eight-count case emphasizes that negligence brought on Mr.
Dobbs' illness, disability, and death. The estate seeks damages
for pain and suffering, impairment, and mental anguish.
Javier Gonzalez, Esq., and Scott W. Wert, Esq., of Foster and
Sear LLP in Arlington, Tex., represent Mr. Dobbs' estate.
Case No. 08CV1065 has been assigned to 405th District Court
Judge Wayne Mallia.
ASBESTOS LITIGATION: Crane Seeks Dismissal of Butt Case in Ill.
----------------------------------------------------------------
Crane Co. is moving to dismiss an asbestos-related lawsuit filed
by Martin Butt's estate in Madison County Circuit Court, Ill.,
The Madison St. Clair Record reports.
The Company argues that the complaint fails to state a claim
upon which relief may be granted.
Mr. Butt's action was filed on Aug. 11, 2008 against 70
defendant corporations. The suit alleges that prior to his
death, he was exposed to and inhaled asbestos fibers which led
to the development of mesothelioma, which caused his death on
Jan. 6, 2007.
Crane says that a plaintiff must allege either a course of
action that shows actual or deliberate harm that shows an utter
indifference to or conscious disregard for the safety or
property of others.
The estate alleges Mr. Butt, an Illinois resident, worked from
1960 to 2002 as a mechanic flag man, machinist apprentice and
machinist at various locations throughout Illinois and Missouri.
John Barnerd, Esq., of SimmonsCooper in East Alton, Ill.,
represents the estate.
If Judge Daniel Stack refused to dismiss the complaint, Crane is
also asking him to dismiss it on the grounds of forum non
conveniens.
Crane wants Judge Stack to dismiss the case or transfer it to a
venue, which has more contacts since the estate failed to allege
any facts that demonstrate Madison County is a proper venue. The
Company also filed their affirmative defenses in the case.
According to Crane, Mr. Butt contributed to the cause of his
injuries because he improperly used or handled asbestos
containing products.
Crane also argues Mr. Butt failed to take proper precautions for
his own safety when he used or handled asbestos products and
continued to use and handle asbestos products when he should
have known of the condition, properties and effects of those
products.
Tamika Steele, Esq., of Gunty & McCarthy in Chicago represents
Crane.
Judge Stack has yet to schedule a hearing date for the motion.
ASBESTOS LITIGATION: Inquest Rules on Mansfield Resident's Death
----------------------------------------------------------------
An inquest heard that the death of Mansfield, England, local
Martin Moore was linked to exposure to asbestos, Chad.co.uk
reports.
The 57-year-old Mr. Moore died on Oct. 28, 2008 at King's Mill
Hospital from malignant mesothelioma.
The Oct. 31, 2008 inquest was told Mr. Moore had suffered
breathing difficulties in 2007 and was later diagnosed with the
disease, which had been caused during his work as a coal miner.
Nottinghamshire coroner Dr. Nigel Chapman recorded a verdict of
death from industrial disease.
ASBESTOS LITIGATION: Hazard Causes Christy Refractories' Ch. 11
----------------------------------------------------------------
The Christy Refractories Company L L C, according to a court
filing, filed its petition in the U.S. Bankruptcy Court in St.
Louis because of mounting asbestos lawsuits, the St. Louis Post-
Dispatch reports.
However, the lawsuits do not stem from the Company's current
operations. The Company said the suits are from asbestos
products sold by a business that Christy acquired in 1995.
According to a court document, although the old company was
named in asbestos-related cases starting in the 1980s, the
frequency increased about eight years ago.
On Oct. 28, 2008, Christy manager Frank O'Brien said that
settlements average about US$1 million per month and are
accelerating. He estimated that more than 1,000 separate
lawsuits are pending.
The lawsuits include people who were exposed to the asbestos
products in schools, steel mills and other commercial and
industrial spaces, said Andrew O'Brien, Esq., a principal at St.
Louis-based O'Brien Law Firm P.C., who is representing about 20
separate cases against the Company.
A trust fund for the lawsuits will be established, and then the
bankruptcy court will decide how much money should be put in the
fund, Frank O'Brien said. He added that the trust fund will have
at least US$18 million.
As of Oct. 28, 2008, the Company had about US$18 million in
remaining insurance coverage out of an original amount of US$45
million, the filing said.
Christy Refractories is owned by O'Brien Industrial Holdings
LLC.
O'Brien Industrial, which is run by Frank O'Brien, and its other
subsidiaries are not in bankruptcy.
ASBESTOS LITIGATION: Car Dealers to Pay GBP7T for Cleanup Breach
----------------------------------------------------------------
Car dealers in London's East End were ordered to pay a GBP7,000
fine for failing to remove asbestos from the premises, the East
London Advertiser 24 reports.
On Oct. 28, 2008, Peugeot Motor Company Plc. was fined at Thames
Magistrates' Court and also ordered to pay Tower Hamlets more
than GBP2,000 costs.
A routine inspection by a public health inspector at the Peugeot
showrooms of Robins & Day in Mile End found they were "failing
to manage asbestos."
A district judge was told that the Company was aware of the
asbestos in the building, following a 2004 survey, which showed
asbestos present and recommended it be removed from the premises
in Mile End Road—but the work had not been carried out.
Tower Hamlets environmental health officer William Sasu has
since been working with the Company to get the asbestos removed.
The council's Commercial Service manager David Tolley said after
the hearing, "The death rate from asbestos in Britain runs at
4,000 a year. The presence of asbestos is a serious issuing
posing a potential fatal risk. "This prosecution was part of our
ongoing work to make sure companies are aware of their
responsibilities."
The authority has carried out 70 inspections and is actively
pursuing other firms "for similar failings."
ASBESTOS LITIGATION: ATSDR Issues Report on Libby's Vermiculite
----------------------------------------------------------------
The Agency for Toxic Substances and Disease Registry says that
employees, their families and people living near 28 exfoliation
sites may have been exposed to amphibole asbestos from
vermiculite mined in Libby, Mont., between the 1920s and the
early 1990s, according to an ATSDR press release dated Oct. 31,
2008.
The document is Summary Report: Exposure to Asbestos–Containing
Vermiculite from Libby, Montana at 28 sites in the United
States.
The report identifies groups of people most at–risk from
exposure to this form of asbestos, makes public health
recommendations for these sites and identifies 78 other sites
that also received Libby vermiculite. All but one of the sites
are former vermiculite exfoliation facilities located in 36
states.
The report identifies three groups at greatest risk for
amphibole asbestos exposure:
-- Persons who worked in exfoliation facilities at some
time from the 1920s to the early 1990s.
-- Persons who lived in the same households with these
workers were exposed through asbestos–laden dust
carried home on workers' clothing.
-- Members of the community (particularly children) who
had frequent, direct contact with vermiculite and waste
rock (a by–product of exfoliation) from these
facilities.
The specific vermiculite mined in Libby and distributed across
the United States was contaminated with amphibole asbestos,
which has been linked to pulmonary diseases including
asbestosis, lung cancer, and mesothelioma.
Workers were exposed to asbestos through a process called
exfoliation, in which vermiculite is heated until it expands.
Since the Libby vermiculite contained asbestos, heating released
asbestos fibers into the air where they could be inhaled.
People who believed they may have been exposed to amphibole
asbestos are encouraged to discuss this with their health care
professional.
In addition, ATSDR also recommends that exposed persons stop
smoking, as smoking combined with asbestos exposure greatly
increases the risk of developing lung cancer.
ATSDR's report calls for continued health education for persons
who have been exposed to amphibole asbestos. The agency has
prepared health education kits to assist public health and
health care professionals and community members.
ATSDR's investigations found that residual amphibole asbestos
likely remains in settled indoor dust at former exfoliation
sites as well as in exterior soil. With many of these sites
still in use as commercial and industrial operations, ATSDR is
recommending existing data for these sites be re-evaluated to
learn more about the residual asbestos that may remain.
The ATSDR study also determined that non–exfoliation sites which
handled vermiculite from Libby do not require follow–up studies
at this time. However, the agency does recommend using the
criteria of the U.S. Environmental Protection Agency's Technical
Review Workgroup to review existing data for all sites that
exfoliated Libby vermiculite using ATSDR's improved
methodologies.
ATSDR began evaluating Libby–related vermiculite sites at the
request of EPA in response to documented health reports related
to asbestos in Libby. In May 2008, ATSDR and EPA announced an $8
million initiative to advance the scientific understanding of
asbestos–like fibers that occur naturally in the environment.
For information about the report, please visit the ATSDR Web
site: http://www.atsdr.cdc.gov/asbestos/sites/national_map
ASBESTOS LITIGATION: Hartford Cites $1.93B Liability at Sept. 30
----------------------------------------------------------------
The Hartford Financial Services Group, Inc.'s net asbestos
liability, for the three and nine months ended Sept. 30, 2008,
was US$1.935 billion, according to the Company's quarterly
report filed with the Securities and Exchange Commission on Oct.
29, 2008.
For the three months ended Sept. 30, 2008, losses and loss
adjustment expenses were US$3 million and losses and LAE paid
were US$35 million.
For the nine months ended Sept. 30, 2008, losses and LAE
incurred were US$59 million and losses and LAE paid were US$122
million.
The Company's net asbestos liability, as of June 30, 2008, was
US$1.967 billion. (Class Action Reporter, Aug. 8, 2008)
Based in Hartford, Conn., The Hartford Financial Services Group,
Inc. offers personal and commercial insurance products,
including homeowners, auto, and workers' compensation. The
Company sells its products through about 11,000 independent
agencies and more than 100,000 registered broker-dealers.
ASBESTOS LITIGATION: Corning Inc. Facing 10,300 Injury Lawsuits
----------------------------------------------------------------
Corning Incorporated is named in about 10,300 cases (about
41,500 claims) alleging injuries from asbestos, according to the
Company's quarterly report filed with the Securities and
Exchange Commission on October 30, 2008.
The Company faced about 10,350 cases (about 41,600 claims)
alleging injuries from asbestos. (Class Action Reporter, Aug. 8,
2008)
The Company and PPG Industries, Inc. each own 50 percent of the
capital stock of Pittsburgh Corning Corporation. Over a period
of more than two decades, PCC and several other defendants have
been named in numerous lawsuits involving claims alleging
personal injury from exposure to asbestos.
On April 16, 2000, PCC filed for Chapter 11 reorganization in
the U.S. Bankruptcy Court for the Western District of
Pennsylvania. At the time PCC filed for bankruptcy protection,
there were about 12,400 claims pending against the Company in
state court lawsuits alleging various theories of liability
based on exposure to PCC's asbestos products and typically
requesting monetary damages in excess of US$1 million per claim.
On Jan. 10, 2008, some of the parties in the proceeding advised
the Bankruptcy Court that they had made substantial progress on
an amended plan of reorganization (the Amended PCC Plan) that
resolved issues raised by the Court in denying the confirmation
of the 2003 Plan and that would therefore make it unnecessary
for the Bankruptcy Court to decide the motion for
reconsideration.
On March 27, 2008 and May 22, 2008, the parties further informed
the Bankruptcy Court on the progress toward the Amended PCC
Plan. The Bankruptcy Court ordered the parties to submit the
Amended PCC Plan on July 25, 2008 and on that date the parties
informed the Court that they were making progress on the Amended
PCC Plan and filed a tentative plan on Aug. 8, 2008.
On Aug. 20, 2008 and Oct. 24, 2008, the parties informed the
Bankruptcy Court of the status of their discussions on the
Amended PCC Plan.
The liability for the Amended PCC Plan and the non-PCC asbestos
claims was estimated to be US$690 million at Sept. 30, 2008,
compared with an estimate of liability under the original 2003
Plan of US$1.002 billion at Dec. 31, 2007.
In the first quarter of 2008, the Company recorded a credit to
asbestos settlement expense of US$327 million as a result of the
increase in likelihood of a settlement under the Amended PCC
Plan and a corresponding decrease in the likelihood of a
settlement under the 2003 Plan.
The Company recorded charges of US$9 million in the second
quarter of 2008 and US$6 million in the third quarter of 2008 to
reflect the change in value of the estimated liability under an
Amended PCC Plan.
The Company recorded asbestos settlement expense under the terms
of the 2003 Plan of US$16 million in the three months ended
Sept. 30, 2007 and US$170 million in the nine months ended Sept.
30, 2007 to adjust the estimated fair value of the components of
the proposed asbestos settlement at that time.
Of the US$1.002 billion estimated liability at Dec. 31, 2007
based on the 2003 Plan, US$833 million was included in other
accrued liabilities as a current liability, and US$169 million
was recorded within the other liabilities component in the
Company's consolidated balance sheets.
Two of the Company's primary insurers and several excess
insurers have commenced litigation for a declaration of the
rights and obligations of the parties under insurance policies,
including rights that may be affected by the potential
settlement arrangement.
New York-based Corning Incorporated makes specialty glass and
ceramics. The Company creates and makes keystone components that
enable high-technology systems for consumer electronics, mobile
emissions control, telecommunications and life sciences.
Products include glass substrates; computer monitors and
laptops; ceramic substrates and filters for mobile emission
control systems; optical fiber, cable, hardware & equipment for
telecommunications networks; optical biosensors for drug
discovery; and other advanced optics and specialty glass
solutions.
ASBESTOS LITIGATION: MeadWestvaco Facing 480 Actions at Sept. 30
----------------------------------------------------------------
MeadWestvaco Corporation, as of Sept. 30, 2008, faced about 480
asbestos-related lawsuits, according to the Company's quarterly
report filed with the Securities and Exchange Commission on Nov.
5, 2008.
The Company has been named a defendant in asbestos-related
personal injury litigation. Typically, these suits also name
many other corporate defendants.
All of the claims against the Company resolved to date have been
concluded before trial, either through dismissal or through
settlement with payments to the plaintiff that are not material
to the Company. To date, the costs resulting from the
litigation, including settlement costs, have not been
significant.
At Sept. 30, 2008, the Company had recorded litigation
liabilities of about US$21 million, a significant portion of
which relates to asbestos.
Glen Allen, Va.-based MeadWestvaco Corporation provides
packaging solutions to the food and beverage, media and
entertainment, personal care, home and garden, cosmetics, and
healthcare industries. The Company's other businesses include
Consumer & Office Products, Specialty Chemicals and Community
Development and Land Management.
ASBESTOS LITIGATION: Two Lorillard Filter Actions Set for Trial
----------------------------------------------------------------
Lorillard, Inc. says that, as of Nov. 1, 2008, two of the
asbestos-related Filter cases were scheduled for trial,
according to the Company's quarterly report filed with the
Securities and Exchange Commission on Nov. 4, 2008.
Trial dates are subject to change.
Claims have been brought against the Company and subsidiary
Lorillard Tobacco Company by individuals who seek damages
resulting from their alleged exposure to asbestos fibers that
were incorporated into filter material used in one brand of
cigarettes manufactured by Lorillard Tobacco for a limited
period of time ending more than 50 years ago.
The Company and its subsidiaries face 27 Filter cases. Lorillard
Tobacco is a defendant in 26 such cases. The Company is a
defendant in three Filter cases, including two that also name
Lorillard Tobacco.
Since Jan. 1, 2006, the Company and Lorillard Tobacco have paid,
or have reached agreement to pay, a total of US$15.1 million in
payments of judgments and settlements to finally resolve 85
claims.
In the sole case tried since Jan. 1, 2006, a jury in the
District Court of Bexar County, Texas, returned a verdict for
Lorillard Tobacco during September 2008 in the case of Young v.
Lorillard Tobacco Company.
Greensboro, N.C.-based Lorillard, Inc. manufactures cigarettes.
Brands include Newport, Kent, True, Maverick, Old Gold and Max.
In the U.S. and certain U.S. possessions and territories, the
Company shipped 28.3 billion cigarettes in the first nine months
of 2008 and 36.6 billion cigarettes for full year 2007. Its
major trademarks outside of the United States were sold in 1977.
ASBESTOS LITIGATION: CBS Corp. Facing 69,280 Claims at Sept. 30
----------------------------------------------------------------
CBS Corporation had 69,280 pending asbestos claims as of Sept.
30, 2008, compared with 72,120 as of Dec. 31, 2007 and 72,970 as
of Sept. 30, 2007, according to the Company's quarterly report
filed with the Securities and Exchange Commission on Nov. 4,
2008.
The Company had about 73,940 asbestos claims as of June 30,
2008. (Class Action Reporter, Aug. 8, 2008)
The Company is a defendant in lawsuits claiming various personal
injuries related to asbestos and other materials, which
allegedly occurred principally as a result of exposure caused by
products manufactured by Westinghouse, a predecessor, generally
before the 1970s. Westinghouse was neither a producer nor a
manufacturer of asbestos.
In the majority of asbestos lawsuits, the plaintiffs have not
identified which of the Company's products is the basis of a
claim.
Claims against the Company in which a product has been
identified principally relate to exposures allegedly caused by
asbestos-containing insulating material in turbines sold for
power-generation, industrial and marine use, or by asbestos
containing grades of decorative micarta, a laminate used in
commercial ships.
Of the claims pending as of Sept. 30, 2008, 40,460 were pending
in state courts, 25,060 in federal courts and, additionally,
3,760 were third party claims pending in state courts.
During the third quarter of 2008, the Company received 1,350 new
claims and closed or moved to an inactive docket 6,020 claims.
The Company's total costs for settlement and defense of asbestos
claims after insurance recoveries and net of tax benefits were
about US$17.5 million for 2007 and US$5.7 million for 2006.
New York-based CBS Corporation is comprised of the following
segments: Television (CBS Television, comprised of the CBS
Television Network, television stations, and its television
production and syndication operations; Showtime Networks; and
CBS College Sports Network), Radio (CBS Radio), Outdoor (CBS
Outdoor), Publishing (Simon & Schuster) and Interactive (CBS
Interactive).
ASBESTOS LITIGATION: Goodyear Facing 118,200 Claims at Sept. 30
----------------------------------------------------------------
The Goodyear Tire & Rubber Company faced 118,200 pending
asbestos cases during the nine months ended Sept. 30, 2008,
compared with 117,400 claims during the year ended Dec. 31,
2007, according to the Company's quarterly report filed with the
Securities and Exchange Commission on Nov. 3, 2008.
The Company had 118,500 pending asbestos claims during the six
months ended June 30, 2008. (Class Action Reporter, Aug. 8,
2008)
During the nine months ended Sept. 30, 2008, the Company noted
2,900 claims filed and 2,100 claims settled or dismissed.
Asbestos payments were US$12 million.
During the year ended Dec. 31, 2008, the Company noted 2,400
claims filed and 9,000 claims settled or dismissed. Asbestos
payments were US$22 million.
The Company is a defendant in numerous lawsuits alleging various
asbestos-related personal injuries purported to result from
alleged exposure to certain asbestos products manufactured by
the Company or present in certain of its facilities. Typically,
these lawsuits have been brought against multiple defendants in
state and Federal courts.
To date, the Company has disposed of about 51,000 claims by
defending and obtaining the dismissal thereof or by entering
into a settlement. The sum of the Company's accrued asbestos-
related liability and gross payments to date, including legal
costs, totaled about US$308 million through Sept. 30, 2008 and
US$297 million through Dec. 31, 2007.
The Company had recorded liabilities for both asserted and
unasserted claims, inclusive of defense costs, totaling US$123
million at Sept. 30, 2008 and US$127 million at Dec. 31, 2007.
The portion of the liability associated with unasserted asbestos
claims was US$72 million at Sept. 30, 2008 and US$76 million at
Dec. 31, 2007.
The Company's liability over asserted claims and related defense
costs was US$51 million at Sept. 30, 2008 and US$51 million at
Dec. 31, 2007.
At Sept. 30, 2008, the Company estimates that it is reasonably
possible that its gross liabilities could exceed its recorded
reserve by US$50 million to US$60 million, about 50 percent of
which would be recoverable by the Company's accessible policy
limits.
The Company had recorded a receivable related to asbestos claims
of US$67 million as of Sept. 30, 2008 and US$71 million as of
Dec. 31, 2007. The Company expects that about 50 percent of
asbestos claim related losses would be recoverable up to the
Company's accessible policy limits through the period covered by
the estimated liability.
Of these amounts, US$6 million (at Sept. 30, 2008) and US$8
million (at Dec. 31, 2007) were included in Current Assets as
part of Accounts Receivable.
The Company said it believes that at Sept. 30, 2008, it had at
least US$180 million in aggregate limits of excess level
policies potentially applicable to indemnity payments for
asbestos products claims. Some of these excess policies provide
for payment of defense costs in addition to indemnity limits. A
portion of the availability of the excess level policies is
included in the US$67 million insurance receivable recorded at
Sept. 30, 2008.
The Company also had about US$15 million in aggregate limits for
products claims, as well as coverage for premise claims on a per
occurrence basis and defense costs available with its primary
insurance carriers through coverage-in-place agreements at Sept.
30, 2008.
Based in Akron, Ohio, The Goodyear Tire & Rubber Company
manufactures tires. The Company has 64 manufacturing facilities
in 25 countries, including the United States. The Company has
four operating segments: North American Tire; Europe, Middle
East and Africa Tire; Latin American Tire; and Asia Pacific
Tire.
ASBESTOS LITIGATION: Perrucio Faces Asbestos Fraud Accusations
----------------------------------------------------------------
On Oct. 24, 2008, Dominic Perruccio was arraigned on asbestos-
related charges and now faces one count of scheming to defraud,
Asbestos.com reports.
Mr. Perruccio, the owner of Earth Research Laboratories, a
Peekskill, N.Y., asbestos-testing company, has been charged with
a felony after it was found he had continued to operate his
business despite having his state certification suspended.
The business had its state certification suspended in March 2007
due to several infractions.
The Company was no longer licensed to provide any kind of
asbestos testing, whether in homes, public buildings, or
commercial workplaces, and yet the Company continued to operate
and provide its testing services.
The state and district departments of health, the state
Department of Environmental Conservation, and the Peekskill
police have all been involved in the investigation on Mr.
Perruccio and the Company.
When the Company's premise was inspected under a search warrant,
several unanalyzed air sample canisters were found. These
canisters are commonly used to determine air quality during
asbestos abatement work.
The Westchester County District Attorney's Office states that
Mr. Perrucio faces up to four years in prison if he is found
guilty.
ASBESTOS LITIGATION: New Scottish Legislation Could Cost GBP607M
----------------------------------------------------------------
Community safety minister Fergus Ewing told Members of the
Scottish Parliament that he would seek further information
following claims that new legislation could carry a GBP607
million price tag, The Press Association reports.
Mr. Ewing said, "We aim to analyze any new information carefully
and report the results to Parliament in good time."
ASBESTOS LITIGATION: CSR Profit Drops to 51% Due to Liabilities
----------------------------------------------------------------
CSR Limited, on Nov. 5, 2008, reported a 51 percent fall in
first half-year profit to AUD32.9 million, due to the Company
booking an extra AUD48 million in provisions to cover asbestos
liabilities, The Sydney Morning Herald reports.
Net profit before one-offs for the six months fell one percent
to US$71.7 million.
The higher asbestos provision was caused by a fall in the dollar
increasing the Company's potential liabilities to United States
victims.
ASBESTOS LITIGATION: Scottish Parliament to Support Legislation
----------------------------------------------------------------
Members of the Scottish Parliament will be asked to support a
proposed asbestos-related legislation at its first stage later,
BBC News reports.
Concern has been raised that the Scottish Government will be hit
with huge costs under plans to compensate people exposed to
asbestos in the past.
New laws would overturn a House of Lords ruling which said
damages could not be claimed for pleural plaques. However, the
convener of Holyrood's justice committee said Scots ministers
may be forced to pay in MoD-related cases.
If parliament passes the Damages (Asbestos-related Conditions)
(Scotland) Bill, the Lords judgment, which stated sufferers
could no longer use the condition as a basis for a damages claim
against the negligence of an employer, would still apply in
England and Wales.
The Bill is expected to get through parliament. However, Bill
Aitken, who heads up the justice committee, warned Holyrood
ministers may have to pay out millions following claims from
employees who worked in former naval shipyards.
The Scottish Government said the Ministry of Defence had
historically accepted liability in such cases and expected that
to continue.
Scots ministers brought the legislation forward to help the many
Scots, who historically worked in industry, having to live with
exposure to asbestos.
ASBESTOS LITIGATION: Fla. Jury Awards Daly Couple US$3M Damages
----------------------------------------------------------------
After six hours of deliberation, a Broward County Jury awarded a
57 year old woman and her husband US$3,606,000 in an asbestos-
related secondhand exposure case, according to a Ferraro Law
Firm press release dated Nov. 4, 2008.
Lynda and Michael Daly claimed that Mrs. Daly's mesothelioma was
a result of her secondhand exposure to asbestos-containing
brakes manufactured by Ford Motor Co. and Pneumo Abex.
Abex made no offer to settle the case. Mrs. Daly was diagnosed
in May 2007 and has been a resident of Broward County since
1998.
Juan P. Bauta, II, Esq., and Case Dam, Esq., of the Ferraro Law
Firm tried the case for over three weeks against Ford and Abex.
Mrs. Daly's exposure to asbestos-containing car brakes occurred
in the 1970s and 1980s when she worked for about two years at
two Ford dealerships in Wisconsin. Mrs. Daly also assisted her
husband with brake repair work on their personal vehicles during
this same period of time.
Mr. Bauta said, "Remarkably Ford and Abex continue to argue that
although asbestos is clearly deadly, they are not responsible."
Although Mrs. Daly's diagnosis was disputed by the defendants,
the Jury rejected the testimony of the defense experts and
relied instead on the treating physicians from Northwest
Regional Hospital in Margate, Fla., Brigham and Women's Hospital
in Boston, and Dr. Timothy Aliff of Coral Springs, Fla., all of
whom confirmed the diagnosis.
ASBESTOS LITIGATION: Motroni Case Filed v. 86 Firms in Illinois
----------------------------------------------------------------
Joseph and Barbara Motroni, on Oct. 20, 2008, have filed an
asbestos-related lawsuit against defendant corporations in
Madison County Circuit, Court, Ill., TransWorldNews reports.
The suit claims Mr. Motroni developed lung cancer as result of
asbestos exposure, with which he was diagnosed on June 11, 2008.
Mr. Motroni worked between 1947 and 1950 as a laborer for the
Illinois Central Gulf Railraod. He also worked between 1950 and
1985 as an asbestos insulation installer with the Local 90
Asbestos Worker's Union.
According to the lawsuit, Mr. Motroni developed lung cancer as a
result of asbestos exposure that should have been anticipated
and prevented by the defendants named.
The 14-count lawsuit seeks at least US$250,000, including
punitive and exemplary damages. They also seek compensation for
economic losses, compensatory damages, as well as any other
relief deemed appropriate by the court.
The lawsuit will also seek punitive damages to punish the
defendants for their negligence and misconduct. The defendants
include Ferris Kimball Company, LLC, Sprinkmann Sons
Corporation, Sprinkmann Insulation, Inc., and Young Insulation
Group of St. Louis.
ASBESTOS LITIGATION: 2 London Boroughs Pose High Exposure Risks
----------------------------------------------------------------
Two boroughs in London, Newham and Tower Hamlets, have been
identified by the Health and Safety Executive as having some of
the city's worst levels of asbestos-related deaths, Safet Med!a
reports.
Newham former area has had 172 deaths in the 26-year period
spanning 1981 to 2005. Tower Hamlets has experienced 91 in this
time.
Disease reduction director at the HSE Steve Coldrick claims
asbestos is the biggest cause of death in the workplace.
Highest in the city is the Barking and Dagenham area, which
recorded 187 deaths from these illnesses within the time period.
The lowest is the City of London area, which has had one.
ASBESTOS LITIGATION: HSE Survey Shows 387 Deaths in Sunderland
----------------------------------------------------------------
A Health and Safety Executive survey indicated that there were
387 asbestos-related deaths in Sunderland, England, since 1981,
Top News reports.
This survey also showed that 20 tradesmen a week die from
asbestos-related diseases and that number is likely to rise.
The HSE has launched Asbestos: the Hidden Killer campaign in the
region which is running up until the end of November 2008 on
posters and on radio.
Jill Morrell, head of public affairs at the British Lung
Foundation, said, "The HSE campaign is vital because research
shows that only one in ten tradesmen know that exposure to
asbestos can prove fatal.
The asbestos-related cancer mesothelioma is a cruel disease
which as yet has no cure. We must do all we can to prevent more
people dying from this preventable disease."
Officials hope that this campaign will make workers aware that
although asbestos was banned many years ago, the risk is still
there.
ASBESTOS LITIGATION: Victoria Government to Apologize to Victims
----------------------------------------------------------------
Victoria, Australia's state government will apologize to workers
who were exposed to asbestos while working for the State
Electricity Commission, Mesothelioma reports.
Victorian Premier John Brumby made the announcement during the
Labor Party's spring state council meeting. He said, "Saying
sorry is the right thing to do...the respectful thing to do."
Workers at power plants constructed in the Latrobe Valley
southeast of Melbourne were exposed to asbestos over a 60-year
period between the 1920s and 1980s.
A representative from Gippsland Asbestos Related Disease Support
(GARDS), a local organization that has been advocating for
asbestos victims, said that the apology would help to bring
closure to those who lost family members as a result of asbestos
exposure.
The formal apology will be made in the Latrobe Valley.
*********
A list of Meetings, Conferences and Seminars appears in each
Wednesday's edition of the Class Action Reporter. Submissions
via e-mail to carconf@beard.com are encouraged.
Each Friday's edition of the CAR includes a section featuring
news on asbestos-related litigation and profiles of target
asbestos defendants that, according to independent research,
collectively face billions of dollars in asbestos-related
liabilities.
*********
S U B S C R I P T I O N I N F O R M A T I O N
Class Action Reporter is a daily newsletter, co-published by
Bankruptcy Creditors' Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Frederick, Maryland
USA. Glenn Ruel S. Senorin, Stephanie T. Umacob, Gracele D.
Canilao, and Peter A. Chapman, Editors.
Copyright 2008. All rights reserved. ISSN 1525-2272.
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