HOUSTON, Nov. 5 /PRNewswire-FirstCall/ -- NL Industries, Inc. (NYSE: NL) announced today that the Superior Court of New Jersey, Middlesex County, dismissed with prejudice complaints by 25 New Jersey municipalities and counties which had been consolidated in a suit against NL, other former lead pigment manufacturers and the Lead Industries Association. The suits had sought abatement of lead paint from all housing and all public buildings in each jurisdiction and punitive damages from all of the defendants.
Among other things, the Superior Court ruled that the local government entities are not permitted to proceed with their complaints to recover damages from manufacturers of a legal product alleged to have created a public nuisance.
NL does not presently know what actions the plaintiffs in this case will take in light of the Superior Court's ruling.
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