1 July 1999: The U.S. Supreme Court threw out a US$ 1.5-billion class-action settlement of asbestos claims against Owens Corning“s Fibreboard Corp. and two insurers in a decision that makes it harder…
1 July 1999: The U.S. Supreme Court threw out a US$ 1.5-billion class-action settlement of asbestos claims against Owens Corning“s Fibreboard Corp. and two insurers in a decision that makes it harder for companies to wipe out broad legal uncertainties through a single agreement. For the second time since 1997, the court rejected an agreement designed to resolve claims by people exposed to asbestos, a cancer-causing fibre. The decision creates a new hurdle to sweeping settlements of lawsuits over silicon breast implants, cellular phones and the “fen-phen” drug combination.