NL Industries Hit With $178M Verdict In Stock Suit

Law360, New York (July 20, 2009, 9:31 PM EDT) -- NL Industries Inc. has been hit with a $178.7 million jury verdict in a suit filed by three shareholders who claimed the lead paint manufacturer undervalued their stock and artificially drained the assets from a subsidiary they ran to manage the company’s environmental liabilities.

The jury handed down the verdict, which includes $145 million in punitive damages, on Friday in Dallas County Civil District Court.

Plaintiffs Efficasey Environmental LLC, Highland Environmental Management LLC and Industrial Recovery Capital Holdings Co. — three independent companies owned by individuals...
To view the full article, register now.