22 May 2008 23:02 [Source: ICIS news]
HOUSTON (ICIS news)--Dow Chemical said on Thursday it will appeal a $350m (€221m) verdict against it and Rockwell International in a case that was filed by Colorado residents near a now-closed nuclear weapons plant.
The lawsuit charges that contamination from the Rocky Flats nuclear plant lowered the property values of area residents.
US District Court Judge John Kane this week upheld the jury verdict and also included an 8% interest compounded annually back to the filing of the suit in January 1990. A lawyer for the plaintiffs said the amount with interest works out to more than $900m, according to news media reports.
“The order is the next step towards getting this matter in front of the 10th Circuit Court of Appeals,” said Dow spokesman Jarod Davis. “Consistent with our position in the past, we intend to appeal.”
Dow has maintained there was no harm to property owners and no damage to property owners. Dow has also contended that the verdict amount exceeds a cap on punitive damages.
($1 = €0.63)
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