Quantcast
Free Trial!
Today’s Best Stocks To Trade!  Click Here


 

DuPont Responds to Spelter, W.Va. Lawsuit Rulings

Tue. February 26, 2008; Posted: 09:38 AM
Stocks RSS
WILMINGTON, Del., Feb 26, 2008 /PRNewswire-FirstCall via COMTEX/ -- DD | news | PowerRating | PR Charts -- The following statement is in response to the rulings in the Spelter, W.Va., zinc smelter class action lawsuit late Monday. The statement is to be attributed to DuPont General Counsel Stacey J. Mobley.

"We are extremely disappointed by the rulings in the Spelter case. DuPont will appeal this case, including the recent rulings and the earlier jury verdicts. We believe there were numerous errors, both during and after trial, that deprived the company of a fair outcome in this case. We are hopeful that the Supreme Court of Appeals of West Virginia will grant review.

"The scientific evidence simply does not warrant medical monitoring. We believe the evidence presented both at trial and in the post-trial proceedings shows that there is no increased risk of disease to the class members as a result of the smelter.

"The court's decision to include biennial chest CT scans in the medical monitoring program is particularly troubling. CT scans are not recommended for such medical monitoring because the risks of harm, including risks of cancer due to radiation exposure, outweigh any benefits. This determination is supported by a recent study published in the New England Journal of Medicine. The trial evidence showed that neither the U.S. Preventive Services Task Force, nor any other authoritative medical screening authority, recommends CT scans for screening asymptomatic patients. The court's rulings, which adopt a plan that includes regular CT scans, ignore the consensus of the medical community.

"The court also erred in estimating the cost of the medical monitoring program at $130 million. Plaintiffs' counsel presented a grossly inflated cost projection as justification for a larger award of attorneys' fees. This estimate is based on implausible and inflated assumptions and forecasts about medical costs and participation rates for the class members. This projection overestimates the reasonable expected cost of the program by many tens of millions of dollars. DuPont's funding obligations will be based on the actual cost of the program, not plaintiffs' unrealistic estimate."

DuPont (NYSE: DD | news | PowerRating | PR Charts ) is a science-based products and services company. Founded in 1802, DuPont puts science to work by creating sustainable solutions essential to a better, safer, healthier life for people everywhere. Operating in more than 70 countries, DuPont offers a wide range of innovative products and services for markets including agriculture and food; building and construction; communications; and transportation.

SOURCE DuPont

http://www.dupont.com/

For full details on Du Pont de Nemours & Company E.I. (DD) click here. Du Pont de Nemours & Company E.I. (DD) has Short Term PowerRatings of 6. Details on Du Pont de Nemours & Company E.I. (DD) Short Term PowerRatings is available at This Link.

    


More News:   Market Updates | Stock Alerts | All Trading News | Stock Index

Email
Print
Archives
Feedback
Email Article Link
Close X
Recipients email address
Your name
Your email
Add a note (optional)




Stocks RSS





Related News [DD]
PREMIER SPONSORED LINKS
TRADE CENTER
 
The TradingMarkets Directory
RELATED SITES
Nothing but forex
Please call 1-213-955-5858 ext. 1

About TradingMarkets | Contact | Advertise | Careers | Link to Us | Site Map | Help | Terms & Conditions | Privacy Policy | Return Policy | Testimonials | Feedback


All analyst commentary provided on TradingMarkets.com is provided for educational purposes only. The analysts and employees or affiliates of TradingMarkets.com may hold positions in the stocks or industries discussed here. This information is NOT a recommendation or solicitation to buy or sell any securities. Your use of this and all information contained on TradingMarkets.com is governed by the Terms and Conditions of Use. Please click the link to view those terms. Follow this link to read our Editorial Policy.

© 2008 The Connors Group, Inc.