Circuit Court approves settlement in CSST lawsuit

CSST is a flexible, stainless steel tubing typically covered with a yellow plastic jacket. Plaintiffs filed the lawsuit against defendant CSST manufacturers Titeflex Corporation, Ward Manufacturing, Inc., OmegaFlex, Inc. and Parker Hannifin Corp., alleging that CSST increased the likelihood of fire from a lightning strike. The defendants maintain that CSST is safe when properly installed in accordance with local codes and manufacturer`s instructions and that CSST has many advantages over traditional iron, steel or copper pipe. To avoid litigation, the four Defendants agreed to settle this case. Under the proposed settlement the defendants will continue to manufacture and sell CSST, and no product recall or product modification is required. Instead, class members who qualify will receive payment vouchers to defray the costs of buying and installing a lightning protection system or bonding and grounding certain systems in their structures. Payment voucher values range from $200 to $2,000 for the installation of a lightning protection system and from $75 to $160 for bonding and grounding only. The court will hold a final approval hearing on Feb. 1, 2007 at 1 p.m. to consider whether to approve the proposed settlement, award attorneys` fees and allow reimbursement of expenses. (Copyright 2006 Newsroom Solutions, LLC)