Halliburton Agrees To $100M Deal In Asbestos Class Action

Law360, New York (January 3, 2017, 3:47 PM EST) -- Halliburton Co. has reached a $100 million deal to end a more than 14-year-old securities class action pending in Texas federal court, brought over claims from investors that the energy giant misled them about the company's asbestos liability.

The settlement, reach in principle last month, puts an appeal of a class certification order on hold, pending the lower court's approval of the deal, according to an order filed Dec. 28.

In a statement, Halliburton said it will be on the hook for about $54 million of the settlement fund, with the rest covered by its insurer.

The long-running class action is...

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