HOUSTON, Oct 29, 2002 /PRNewswire-FirstCall via COMTEX/ -- NL Industries, Inc. (NYSE: NL) announced today that a jury in a Rhode Island state court suit was unable to reach a verdict on the question of whether lead pigment in paint on Rhode Island buildings is a public nuisance, and the jury was dismissed by the trial judge. The defendants in the suit include NL and other former lead pigment manufacturers. The suit was brought by the State of Rhode Island and seeks compensatory and punitive damages for expenses that the State alleges were caused by lead paint. NL stated that the hung jury was in phase one of a multi-phase trial and would not have determined whether NL or any of the defendants were liable or that any damages were to be awarded at this time.
No date has been set for any further proceedings, including any possible retrial of the public nuisance issue. Other claims made by the Attorney General, including violation of the Rhode Island Unfair Trade Practices and Consumer Protection Act, strict liability, negligence, negligent and fraudulent misrepresentation, civil conspiracy, indemnity, and unjust enrichment remain pending and were not the subject of this trial.
NL Industries, Inc. is a major international producer of titanium dioxide pigments.
The statements in this release relating to matters that are not historical facts are forward-looking statements that represent management's beliefs and assumptions based on currently available information. Forward-looking statements can be identified by the use of words such as "believes," "intends," "may," "will," "should," "could," "anticipates," "expects," or comparable terminology or by discussions of strategy or trends. Although NL believe that the expectations reflected in such forward-looking statements are reasonable, it cannot give any assurances that these expectations will prove to be correct. Such statements by their nature involve risks and uncertainties, including, but not limited to, the ultimate resolution of pending or possible future lead pigment litigation and legislative developments related to the lead paint litigation, the outcome of other litigation, and other risks and uncertainties detailed in NL's Securities and Exchange Commission filings. Should one or more of these risks materialize (or the consequences of such a development worsen), or should the underlying assumptions prove incorrect, actual results could differ materially from those forecasted or expected. NL disclaims any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events or otherwise.
SOURCE NL Industries, Inc.
CONTACT:
Robert D. Hardy, Chief Financial Officer of NL Industries,
Inc.
1-281-423-3332
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