Contrary to published reports, Sears, Roebuck and Co. (NYSE: S) would pay a maximum of $30,000 to a Plattsburgh, N.Y. couple under terms of a jury verdict that found Sears responsible for 2 percent of a total $1.5 million award in an asbestos-related case.
Reports published today incorrectly indicated that the jury had ordered Sears to pay the entire $1.5 million award.
The verdict was rendered September 30 in the State of New York Supreme Court in St. Lawrence County.
Howard Plumb, 78, sued Sears after he was diagnosed with mesothelioma, a type of cancer, last February. He claimed the disease was caused by exposure to products he purchased at Sears in the 1940s, '50s and '60s. The jury found that the products sold by Sears were not defective.
SOURCE: Sears, Roebuck & Co.
Contact: Janice R. Drummond of Sears, Roebuck & Co., 847-286-8316