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.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]