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News
July 7, 2014

In The News Today – July 7, 2014

Six insurance companies are suing an asbestos personal injury trust set up by a U.S. unit of Philips that the insurers “suspect has been making millions of dollars in fraudulent payments to parties that cannot prove they were harmed by the company’s asbestos products.” The insurers are seeking access to trust records. (Reuters)

Yet Echo Therapeutics, a medical device maker, and LGL Group, Inc., an electrical components maker, appear to be the first companies to adopt bylaws “shifting corporate legal fees to shareholders. A recent Delaware Supreme Court decision “appeared to open the door” to such bylaws. The Delaware legislature’s effort to ban such bylaws was “stymied” by pushback by the business community, including “the U.S. Chamber of Commerce.” (WSJ Law Blog)

The Texas Supreme Court has dismissed an asbestos suit against Union Carbine Corp by a former employee, saying the man’s family “failed to submit sufficient medical evidence” as required by Chapter 90. That law, enacted in 2005, requires claimants to serve defendants with a medical report that includes, among other things, “the results of pulmonary testing that demonstrate a plaintiff’s lung function is below a specified threshold.” (Law360)

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