An agreement may soon be reached in the asbestos liability lawsuits against Halliburton Co, based in Dallas, and Honeywell International Inc. that would settle hundreds of thousands of claims. According to Reuters, Frederick Baron, a Dallas attorney representing plaintiffs has indicated that a settlement may occur in the next few weeks.
The amount of money to be paid to the claimants appears to be the main issue barring settlement. No indication was given as to what kinds of monetary settlements are on the table. U.S. companies have so far been hit with over $54 billion in claim settlements and that number is expected to reach as high as $200 billion.
Halliburton is an energy and construction company that was headed by Vice President Dick Cheney before he took office. Its shares have been adversely affected by the company’s vulnerability to asbestos claims. Honeywell makes airplane parts, including brakes, wheels and electronic components.
Topics Lawsuits
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