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May 15, 2015

New Asbestos Database Reveals “Staggering” Profits in Asbestos Litigation Business

A database recently unsealed in the Garlock Sealing Technologies’ bankruptcy reveals the “staggering amount of money generated by the business of asbestos.”

The database compiles details from a sample of 850 of 1,000 randomly selected claimants. The sampling represents just a “tiny sliver of the asbestos claimant universe,” yet reflects awards totaling $516,970,419 through the asbestos court and the bankruptcy trust systems.

Of the 850 claimants sampled, 75 were represented by the Simmons law firm. Of those Simmons filings, 38 were filed in Madison County, IL, resulting in a total of $30,559,979 in payouts from various bankruptcy trusts.

Read the full story here.

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