ETFOptimize | High-performance ETF-based Investment Strategies

Quantitative strategies, Wall Street-caliber research, and insightful market analysis since 1998.


ETFOptimize | HOME
Close Window

159 Plaintiffs Sue Cape Asbestos Over Decades of Negligence and Fraud Stemming from Asbestos Exposure

Mass legal action claims South Carolina importer covered up deadly effects of asbestos, caused widespread fatal health consequences across the US

More than 150 plaintiffs have filed suit against Cape, PLC, its subsidiaries and global affiliates including Anglo American (OTCQX: NGLOY), De Beer Group PLC (OTCQX: AAUKF), and ESAB Corp. (NYSE: ESAB), which imported and distributed carcinogenic asbestos in the United States for decades.

“Cape and its related entities, by its own admission, sold more than 95% of the type of asbestos commonly used in industry and on U.S. Navy ships for decades. That asbestos is responsible for untold death and despair among the workers of South Carolina and the nation,” said Trey Branham, partner at Dean Omar Branham Shirley, LLP, who along with co-counsel Theile McVey of Kassel McVey represents the plaintiffs.

The mass action lawsuit alleges that Cape and its subsidiaries are liable for diseases caused by asbestos exposure suffered by residents of the state and beyond. It includes plaintiffs suffering from asbestos-related illnesses, including mesothelioma and lung cancer, as well as the families of those who have died from exposure to the deadly carcinogen.

According to the lawsuit, Cape led efforts in the U.S. to hide from consumers and its own employees the risks that it knew existed from the South African asbestos it processed. When asbestos-related lawsuits began surfacing in the 1970s, Cape took measures to shield itself from legal action by creating new entities and then fleeing the U.S.

“This case is about finally bringing this company to the forefront for the harm they’ve caused,” said Ms. McVey, managing partner of Kassel McVey. “We intend to hold these bad actors to account for the damage they have inflicted on so many lives.”

The lawsuit details how Cape set up an elaborate structure of affiliated companies in South Africa, the United Kingdom and the United States to avoid financial responsibility for the harm it knew it was causing. Since those companies and their insurers have failed to respond to lawsuits brought on behalf of those injured or killed by asbestos-related diseases, a South Carolina court has appointed a receiver to respond on their behalf.

The case is Augustus A. Adams et al. v Cape PLC et al., No. 2024-CP-40-06639 in the Court of Common Pleas, County of Richland for the Fifth Judicial Circuit.

Dean Omar Branham Shirley, LLP, is a nationally recognized trial firm that handles cases across the country for individuals who have suffered catastrophic injuries or have died as a result of the irresponsible conduct of others. For more information, visit www.dobslegal.com.

Kassel McVey is the preeminent plaintiffs’ firm in South Carolina, headed by the former president of the South Carolina Association for Justice, Theile McVey. For more information visit https://www.kasselmcvey.com/

Contacts

Stock Quote API & Stock News API supplied by www.cloudquote.io
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms Of Service.


 

IntelligentValue Home
Close Window

DISCLAIMER

All content herein is issued solely for informational purposes and is not to be construed as an offer to sell or the solicitation of an offer to buy, nor should it be interpreted as a recommendation to buy, hold or sell (short or otherwise) any security.  All opinions, analyses, and information included herein are based on sources believed to be reliable, but no representation or warranty of any kind, expressed or implied, is made including but not limited to any representation or warranty concerning accuracy, completeness, correctness, timeliness or appropriateness. We undertake no obligation to update such opinions, analysis or information. You should independently verify all information contained on this website. Some information is based on analysis of past performance or hypothetical performance results, which have inherent limitations. We make no representation that any particular equity or strategy will or is likely to achieve profits or losses similar to those shown. Shareholders, employees, writers, contractors, and affiliates associated with ETFOptimize.com may have ownership positions in the securities that are mentioned. If you are not sure if ETFs, algorithmic investing, or a particular investment is right for you, you are urged to consult with a Registered Investment Advisor (RIA). Neither this website nor anyone associated with producing its content are Registered Investment Advisors, and no attempt is made herein to substitute for personalized, professional investment advice. Neither ETFOptimize.com, Global Alpha Investments, Inc., nor its employees, service providers, associates, or affiliates are responsible for any investment losses you may incur as a result of using the information provided herein. Remember that past investment returns may not be indicative of future returns.

Copyright © 1998-2017 ETFOptimize.com, a publication of Optimized Investments, Inc. All rights reserved.