Pepsi's Challenge To $308M Asbestos Deal Survives

Law360, Houston (July 25, 2013, 1:59 PM EDT) -- A Texas appeals court said Thursday that a suit alleging Cooper Industries LLC and a M&F Worldwide Corp. subsidiary struck a secret $308 million asbestos settlement that cut off contractual liability protections held by a PepsiCo Inc. unit could proceed in state court.

The 14th District Court of Appeals rejected Cooper’s argument that Pepsi-Cola Metropolitan Bottling Co. Inc. should have launched its attack on Cooper’s 2011 settlement with Pneumo Abex LLC in the New York trial court that signed off on the deal and not in...
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