U.S. Supreme Court rules in favor of $500 million asbestos settlement

"The U.S. Supreme Court has overturned a lower court ruling that had barred Travelers Insurance Company’s settlement of asbestos-related litigation. As a result, Travelers Insurance will settle asbestos-related litigation for a total of nearly $500 million, and new lawsuits against Travelers resulting from its relationship with former asbestos giant Johns-Manville are barred. Travelers was Johns-Manville’s ..." (2009-6-23)
Read more...