"Caterpillar Inks $60M Deal To Exit Bus Engine Defect Suit," Law360
April 20, 2016
Caterpillar Inc. on Wednesday told a New Jersey federal judge that it has agreed to pay $60 million to end bus and trucking companies' class claims alleging that it sold bus engines with a defective anti-pollution system, but said that it still stands behind its legal positions and its products.
The heavy equipment manufacturer said that it supports the plaintiffs' proposed settlement because going forward in the litigation could prove risky and expensive.
