SAFESKIN Message Board - Msg: 3684741

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Biotech / Medical : SAFESKIN

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To: wmf who wrote (238)	3/12/1998 10:10:00 AM
From: Beltropolis Boy	Read Replies (1) of 828

>Annual report of 1996 dated March 1997. The paragraph about the >lawsuit is written in "legal" lingo. To my opinion all it says is >that there are 55 lawsuits of which some or maybe all are against >multiple manufacturers. this is a bit more up to date; cut from the 3q dated 14 nov 97: LEGAL PROCEEDINGS Since May 1995, 87 product liability lawsuits seeking monetary damages have been filed in federal and state courts in which the Company has been named a defendant along with other manufacturers of latex gloves. In February 1997, the Judicial Panel on Multi-District Litigation entered an order transferring the latex allergy lawsuits brought against the Company and other latex glove manufacturers in various federal courts to the United States District Court in Philadelphia, consolidating pending and future federal court latex allergy lawsuits for discovery management and other pre-trial proceedings. Management has referred the defense of these cases to its insurance carriers. The Company maintains levels of insurance coverage which it believes will be adequate to cover the cost of the legal defense of these suits.

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