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11/26/2001
Rail News: Rail Industry Trends
CSX seeks to settle New Orleans tank-car fire class-action suit
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CSX Corp. Nov. 21 reached a settlement with thousands of residents affected by a 1987 chemical tank car fire in New Orleans' Gentilly section.
More than 8,000 plaintiffs filed a class-action lawsuit against CSX and eight companies claiming the 36-hour fire — which started when butadiene leaked from a car — adversely affected their health and property.
The settlement — which CSX officials and lawyers declined to disclose, but claim will cost CSX about 17 cents per share — is subject to a fairness hearing before New Orleans' Civil District Court.
Louisiana's 4th Circuit Court of Appeals in June upheld an $850 million punitive damages verdict against CSX in the suit, leading CSX officials to deny any wrongdoing and appeal the case to the state's supreme court.
More than 8,000 plaintiffs filed a class-action lawsuit against CSX and eight companies claiming the 36-hour fire — which started when butadiene leaked from a car — adversely affected their health and property.
The settlement — which CSX officials and lawyers declined to disclose, but claim will cost CSX about 17 cents per share — is subject to a fairness hearing before New Orleans' Civil District Court.
Louisiana's 4th Circuit Court of Appeals in June upheld an $850 million punitive damages verdict against CSX in the suit, leading CSX officials to deny any wrongdoing and appeal the case to the state's supreme court.
