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In July Sealed Air's share price plunged from $40 to $14.Until recently, the mood in the markets had become sceptical about the prospects of any firm with the slightest exposure to asbestos litigation reaching any solution short of bankruptcy.
The state of punitive damages in the United States has been a controversial topic for more than three decades, resulting in litigation reaching the U.S. Supreme Court and state supreme courts.
Yet most litigation reaching the Supreme Court raises novel questions of law; if not, they would be easily resolved in the lower courts.
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"If this controversy continues, and if the renewed litigation reaches the remedial phase, the parties and the district court will have another opportunity to consider an appropriate remedy," the court said.
But when parties to litigation reach that stage and the Court fails to respond with a decision on the merits, lawyers read that as a signal that the case should proceed.
The pretrial litigation has reached the five-year mark with depositions and arguments ever growing in Dickensian stacks dense enough to make the judge cry out.
The Doty decision is one of the steps that could push owners and players to come to an agreement to settle their litigation and reach a new agreement to allow league business to resume.
Billions more, Mr Prince added, would be put aside as a reserve against hundreds of other lawsuits, of which the most significant are tied to Enron.Citigroup's total bill for bubble-related litigation has reached $9 billion, estimates Michael Mayo, an analyst with Prudential Securities.
If countries lose faith in multilateral negotiations as a means to achieving better market access, they may turn to litigation to reach their trade goals.Perhaps most worrying, the Doha impasse in part reflects the intellectual shifts that this special report has described.
Importantly, the government preferred to fight these claims in court and keep information about its role in extraordinary rendition secret, but the courts rejected its attempt to hide behind official secrecy, and forced it to decide whether to pursue expensive and uncertain litigation or reach a settlement.
A spokesperson for Haag declined to comment on the litigation when reached by HuffPost on Monday.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com