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Asbestos Claim Settled by Owens Corning

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At a glance:

Owens Corning has agreed to a settlement of $5.2 billion for asbestos claims against the company, as part of its bankrupcy restructuring process. 
 
Asbestos was used in the manufacturing of many products, including insulation and automobile brakes, until the mid 1970s, and millions of workers and their families were exposed and run a long-term higher risk of developing lung cancers such as mesothelioma. 
 

Owens Corning to pay 5.2 billion-dollar asbestos settlement - TODAYonline

TODAYonline - 5/10/2006 2:46 PM

Building products maker Owens Corning has agreed to a 5.2 billion-dollar settlement of long-running claims for illnesses linked to asbestos, the company and a lawyer for plaintiffs said.
 
The deal is likely to be the biggest asbestos settlement in history, according to John Cooney, a lawyer who was appointed to represent plaintiffs after Owens Corning filed for bankruptcy pr
 
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