Rhode Island's supreme court reversed this week a 2006 jury ruling which would have force paint manufacturers Sherwin Williams, NL Industries and Millenium Holdings to pay billions of dollars to clean up lead paint contamination in the state.
This is a victory for the paint and coatings industry which already stopped manufacturing lead paints since its ban in the late 70s. According to this New York Times article, the supreme court said landlords and property owners were the ones responsible for making sure lead paints were not used in their properties.
According to Fitch Ratings (and other analysts), the verdict reversal could influence court opinions in jurisdictions such as Ohio and California where lead-based paint lawsuits are pending.
