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ASBESTOS LITIGATION: Lockheed Martin Still Facing Injury Actions
Lockheed Martin Corporation continues to be a defendant in lawsuits alleging personal injury as a result of exposure to asbestos integrated into its premises and certain historical products, according to the Company's 2008 annual report filed with the Securities and Exchange Commission.
The Company has never mined or produced asbestos and no longer incorporates it in any currently manufactured products. The Company has been successful in having a substantial number of these claims dismissed without payment. The remaining resolved claims have settled for amounts that are not material individually or in the aggregate.
A substantial majority of the asbestos-related claims have been covered by insurance or other forms of indemnity.
Headquartered in Bethesda, Md., Lockheed Martin Corporation is a global security company that researches, designs, develops, manufactures, integrates, and sustains advanced technology systems and products. The Company also provides management, engineering, technical, scientific, logistics, and information services.
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Lloyd's Asbestos Litigation Reporter
is a weekly newsletter distributed every Friday co-published by
Bankruptcy Creditors' Service, Inc., Fairless Hills, Pennsylvania, USA, and
Beard Group, Inc., Frederick, Maryland, USA.
Copyright 2008. All rights reserved. ISSN: 1945-4694.
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Additional e-mail subscriptions for members of the same firm
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For subscription information, contact Christopher Beard at 240/629-3300 ext 1.
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