Caterpillar Inks $60M Deal To Exit Bus Engine Defect Suit
Law360, Los Angeles (April 20, 2016, 7:18 PM EDT) -- Caterpillar Inc. on Wednesday told a New Jersey federal judge that it has agreed to pay $60 million to end bus and trucking companies' class claims alleging that it sold bus engines with a defective anti-pollution system, but said that it still stands behind its legal positions and its products.
The class has alleged that an exhaust emission control system in Caterpillar's diesel engines is defective. (Credit: AP)
The heavy equipment manufacturer said that it supports the plaintiffs' proposed settlement because going forward in the litigation could prove risky and expensive.
"Given the uncertainties and costs of continuing litigation, the proposed...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!