$72.5M Class Action Settlement Fund Announced Covering Past Emtal Industrial Talc Litigation
“Magistrate Judge Joseph A. Dickson of the United States District Court for the District of New Jersey, has preliminarily approved a class action settlement reached between Defendants BASF Catalysts, LLC (“BASF”) and Cahill Gordon & Reindel LLP (“Cahill”) and Plaintiffs to resolve claims relating to prior Emtal Talc litigation by creating a non-reversionary fund of $72.5 million to pay up to 19,000 potential claimants and agreeing to pay fees and other expenses as described in the Settlement Agreement,” reported by the Emtal Talc Settlement Notice Agent in The Central Virginian.
“Emtal Talc was used in the manufacturing of industrial products … The settlement resolves a class action lawsuit in which Plaintiffs claim that from 1984 until 2009 Engelhard (BASF acquired Engelhard in 2006), its former national law firm Cahill, and employees of the two companies, made misstatements or concealed evidence about the existence of alleged asbestos in Emtal Talc and failed to disclose related information to plaintiffs, their lawyers, and courts in the Underlying Lawsuits.”
