$72.5 Million Class Action Settlement Fund Announced Covering Past Emtal Industrial Talc Litigation For Up To 19,000 Potential Claimants
RICHMOND, Va., Sept. 17, 2020 /PRNewswire/ -- The Notice Agent of the settlement reached in Williams v. BASF Catalysts LLC, et al., C.A. No. 2:11-cv-01754
(D.N.J.) releases this information about the settlement.
Magistrate Judge Joseph A. Dickson of the United States District Court for the District of New Jersey, has preliminarily approved a class action settlement reached between Defendants BASF Catalysts, LLC ("BASF") and Cahill Gordon & Reindel LLP ("Cahill") and Plaintiffs to resolve claims relating to prior Emtal Talc litigation by creating a non-reversionary fund of $72.5 million to pay up to 19,000 potential claimants and agreeing to pay fees and other expenses as described in the Settlement Agreement.
Emtal Talc was used in the manufacturing of industrial products. This settlement does not involve any kind of personal cosmetic product such as baby, body, or talcum powder. The settlement resolves a class action lawsuit in which Plaintiffs claim that from 1984 until 2009 Engelhard (BASF acquired Engelhard in 2006), its former national law firm Cahill, and employees of the two companies, made misstatements or concealed evidence about the existence of alleged asbestos in Emtal Talc and failed to disclose related information to plaintiffs, their lawyers, and courts in the Underlying Lawsuits. Plaintiffs claim that due to these misstatements and omissions, Plaintiffs in the Underlying Lawsuits either (1) voluntarily agreed to dismiss or settle their cases for less than they otherwise would have accepted or (2) had their cases involuntarily dismissed by court order upon motions filed by the Defendants. Defendants deny Plaintiffs' allegations and dispute that any statements about Emtal Talc affected the outcome of the Underlying Lawsuits because Defendants contend that (1) the claims in the Underlying Lawsuits were without merit, (2) the amount of asbestos in Emtal Talc, as reported in historical documents, could not have caused harm to human health and (3) many of the Underlying Lawsuits were resolved for fixed amounts irrespective of the alleged asbestos content of the talc or the number of talc defendants. Defendants further contend that many of the complaints merely named Engelhard without any specific allegations regarding product identification, exposure, or damages. Plaintiffs dispute these arguments.
BASF also claims that it was not aware of the facts alleged by the Plaintiffs in this case when it bought Engelhard in 2006 and that BASF did not learn of the circumstances giving rise to Plaintiffs' allegations in this case until 2009.
BASF and Cahill have nevertheless agreed to settle this lawsuit in the interest of avoiding further costs and the uncertainty of litigation.
If the United States District Court for the District of New Jersey approves the settlement, then BASF and Cahill will pay $72.5 million into a Settlement Fund to pay Class Members as follows: (a) $6.25 million to those who prove they are Class Members; (b) $59.75 million to those who sustained an asbestos-related injury; and (c) $6.5 million to those who experienced an extraordinary physical injury and/or economic loss allegedly as a result of exposure to Emtal Talc, as well as an incentive award of $300,000 to six plaintiffs who helped bring the case. BASF and Cahill have also agreed to pay court-approved attorneys' fees up to $22.5 million, court-approved attorneys' expenses up to $1.2 million, and up to $3.5 million in notice and settlement administration costs.
Class Members may, beginning September 17, 2020 submit claims online at www.EmtalTalcSettlement.com. The website also provides instructions for how to file a claim in hard copy through the mail. The website also provides instructions for how to file a claim in hard copy through the mail. All claim forms must be filed by January 15, 2021.
The Court will hold a hearing on July 29, 2021 to consider whether to approve the settlement. Class Members have until December 16, 2020 to exclude themselves from, or object to, the settlement.
For more information, visit www.EmtalTalcSettlement.com or call 1-888-401-1929.
SOURCE Emtal Talc Settlement Notice Agent
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