Judge endorses Navistar settlement
A Chicago federal judge has given initial approval to Navistar's agreement to pay truck owners and lessees $135 million to settle a class action lawsuit over allegedly defective engine emission systems.
The settlement, pending final court approval, ends a court battle for the manufacturer, which built thousands of 2011 to 2014 model year commercial trucks with an alleged emissions design flaw that resulted in breakdowns and engine damage.
More than 66,500 International trucks equipped with certain MaxxForce 11- or 13-liter diesel engines are included in the class. Truck owners and lessees can choose from three payout options, either up to $2,500 cash per truck, a rebate of up to $10,000 towards a new truck or up to $15,000 in covered damage per truck.
"We're very happy with the result we reached for the class of Navistar truck owners and lessees," Adam Levitt, a Chicago attorney representing the plaintiffs, said Thursday.
All owners and lessees of affected vehicles must file their claims by May 11, Levitt said.
-- Chicago Tribune
Monsanto: Don't put Roundup trial on TV
Allowing TV cameras into Monsanto's trial over the safety of Roundup herbicide might put witnesses and employees at risk, the company's lawyer told a judge Thursday.
"Monsanto witnesses and lawyers have received threatening calls," JoAnn Sandifer told a St. Louis judge at a hearing ahead of a trial set for this month over allegations that the weedkiller causes cancer.
Sandifer cited a social media comment after Hugh Grant, the former chief executive officer and chairman of Monsanto, was announced as a witness in another Roundup trial that was scheduled for this month but has been postponed. Monsanto was acquired by Bayer AG in 2018.
"Someone wrote on Facebook, 'He should be shot,'" Sandifer said.
Joseph Martineau, an attorney for Courtroom View Network, a broadcast streaming service, discounted any added danger from televising the trial. The subscriber-based company's clients are almost entirely professionals, Martineau said.
The judge didn't immediately rule on the motion. Grant isn't listed as a witness.
-- Bloomberg News
Arkansas Index falls 1.81, ends at 468.71
The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, closed Thursday at 468.71, down 1.81.
"Equities rose to record highs for a second straight day as investors increased risk exposure ahead of next week's anticipated Chinese tariff agreement, a reduction of geopolitical tension, and impending kickoff to quarterly earnings season," said Leon Lants, managing director at Stephens Inc. in Little Rock.
The index was developed by Bloomberg News and the Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.
Business on 01/10/2020