WASHINGTON (AP) — The U.S. Supreme Court yesterday set aside a $1.5 billion settlement of the Fibreboard Corp.’s legal liability for asbestos-related claims.
The Court, by a 7-2 vote, ruled that a federal judge in Texas wrongly allowed a class action settlement involving Fibreboard, a vinyl siding manufacturer, Ortiz v. Fibreboard, 97-1704. The new guidelines may make it more difficult for manufacturers and other defendants to obtain settlements of massive and complex product liability lawsuits.
