Madison-Kipp, Insurers Pay $4.6M To Settle Pollution Suit

Law360, New York (July 17, 2013, 6:10 PM ET) -- Aluminum die-caster Madison-Kipp Corp. and three of its insurers agreed Monday to shell out $4.6 million and fortify residential properties in Wisconsin to satisfy class-action claims that a nearby manufacturing plant spewed toxic vapors around the homes for years.

The settlement averts a trial that was set to begin next month on claims by a certified class of Madison residents who say one of the industrial equipment maker's plants contaminated the air, soil and groundwater surrounding their homes, harming their value.

The residents alleged that Madison-Kipp's...
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