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February 24th, 2006

"Paint Manufacturers Liable For Poisoning Kids"

Paint manufacturers Sherwin-Williams Co., NL Industries Inc. and Millennium Holdings LLC continue to see their stocks drop after they were found liable in a Rhode Island court for poisoning kids and creating a public nuisance.

Spokesman for the Rhode Island Supreme Court, Craig Berke, said the jury deliberated for eight days before they found three of the four paint companies in the trial liable for the millions of dollars in cleanup and alleviation costs. The fourth company, Atlantic Richfield was cleared of all charges.

Superior Court Judge Michael Silverstein is expected to hear arguments on Monday about punitive damages. A jury will then decide the exact dollar amount the liable companies must pay.

The National Paint and Coating Association, Inc. (NPCA) is unsatisfied with the jury''s decision and is “confident that, upon appeal, the issue will be resolved in favor of the defendants.”

In addition, Sherwin-Williams continues to adamantly defend itself. “We continue to believe that the facts and the law are on our side. The court still has to rule on various remaining issues before the next steps in the legal process can be determined,” the company said in a statement on Thursday.

Until then, the Rhode Island jury''s verdict will be a debilitating factor for the shares of the paint makers until the expected appeal is concluded.

Lead-based paint was officially banned in 1978 after studies concluded the paint caused serious health problems in children. According to the National Safety Council, lead-based paint is still found in approximately 38 million homes.

Rhode Island was the first state to file a lead-based paint lawsuit and alleged that paint manufacturers continued to market the product for decades after they knew of the dangers.

Lawsuits against paint manufacturers have been filed in other states as well.

Have you or someone you love been injured by lead based paint?

Contact a lead exposure lawyer today for a free review of our potential case.