ASBESTOS LITIGATION: Constellation, BGE Face 513 Pending Claims
Constellation Energy Group, Inc. and subsidiary Baltimore Gas
and Electric Company face 513 asbestos-related claims, according
to the Company's annual report for the year ended Dec. 31, 2008
filed with the Securities and Exchange Commission.
Since 1993, BGE and certain Company subsidiaries have been
involved in several actions concerning asbestos. The actions are
based upon the theory of "premises liability," alleging that BGE
and the Company knew of and exposed individuals to an asbestos
hazard. In addition to BGE and the Company, numerous other
parties are defendants in these cases.
About 513 individuals who were never employees of BGE or the
Company have pending claims each seeking several million dollars
in compensatory and punitive damages.
Cross-claims and third-party claims brought by other defendants
may also be filed against BGE and the Company in these actions.
To date, most asbestos claims that have been resolved have been
dismissed or resolved without any payment and a minority has
been resolved for immaterial amounts.
Headquartered in Baltimore, Constellation Energy Group, Inc. is
an energy company that includes a merchant energy business and
Baltimore Gas and Electric Company, a regulated electric and gas
public utility in central Maryland.
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