BASF, Cahill Pay $73M To Settle Claims They Hid Asbestos

Law360 (July 23, 2020, 8:45 PM EDT) -- BASF and its former counsel at Cahill Gordon & Reindel LLP have reached a proposed $73 million settlement over claims they concealed that industrial and commercial talc from a Vermont mine may contain asbestos, according to a motion for preliminary approval filed Thursday in New Jersey federal court.

The settlement will allow as many as 20,000 plaintiffs who had sued BASF or its predecessor, Englehard Corp., to seek between $500 and $175,000 from the settlement fund depending on the outcome of their earlier cases and the severity of their or their decedents' injuries, while ending nearly a decade of litigation over...

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