MRO » Topics » Product Contamination Litigation

These excerpts taken from the MRO 10-K filed Feb 27, 2009.

Product Contamination Litigation

A lawsuit filed in the United States District Court for the Southern District of West Virginia alleges that our Catlettsburg, Kentucky refinery distributed contaminated gasoline to wholesalers and retailers for a period prior to August 2003, causing permanent damage to storage tanks, dispensers and related equipment, resulting in lost profits, business disruption and personal and real property damages. Following the incident, we conducted remediation operations at affected facilities, and we deny that any permanent damages resulted from the incident. Class action certification was granted in August 2007. We have entered into a tentative settlement agreement in this case. Notice of the proposed settlement has been sent to the class members. Approval by the court after a fairness hearing is required before the settlement can be finalized. The fairness hearing is scheduled in the first quarter of 2009. The proposed settlement will not significantly impact our consolidated results of operations, financial position or cash flows.

Product Contamination Litigation

A lawsuit filed in the United States District Court for the Southern District of West Virginia alleges that our Catlettsburg, Kentucky refinery distributed contaminated gasoline to wholesalers and retailers for a period prior to August 2003, causing permanent damage to storage tanks, dispensers and related equipment, resulting in lost profits, business disruption and personal and real property damages. Following the incident, we conducted remediation operations at affected facilities, and we deny that any permanent damages resulted from the incident. Class action certification was granted in August 2007. We have entered into a tentative settlement agreement in this case. Notice of the proposed settlement has been sent to the class members. Approval by the court after a fairness hearing is required before the settlement can be finalized. The fairness hearing is scheduled in the first quarter of 2009. The proposed settlement will not significantly impact our consolidated results of operations, financial position or cash flows.

Product Contamination Litigation

FACE="Times New Roman" SIZE="2">A lawsuit filed in the United States District Court for the Southern District of West Virginia alleges that our Catlettsburg, Kentucky refinery distributed contaminated gasoline to wholesalers and retailers for a
period prior to August 2003, causing permanent damage to storage tanks, dispensers and related equipment, resulting in lost profits, business disruption and personal and real property damages. Following the incident, we conducted remediation
operations at affected facilities, and we deny that any permanent damages resulted from the incident. Class action certification was granted in August 2007. We have entered into a tentative settlement agreement in this case. Notice of the proposed
settlement has been sent to the class members. Approval by the court after a fairness hearing is required before the settlement can be finalized. The fairness hearing is scheduled in the first quarter of 2009. The proposed settlement will not
significantly impact our consolidated results of operations, financial position or cash flows.

These excerpts taken from the MRO 10-K filed Feb 29, 2008.

Product Contamination Litigation

A lawsuit was filed in the United States District Court for the Southern District of West Virginia and alleges that Marathon’s Catlettsburg, Kentucky refinery sold defective gasoline to wholesalers and retailers, causing permanent damage to storage tanks, dispensers and related equipment, resulting in lost profits, business disruption and personal and real property damages. Class action certification was granted in August 2007. In 2002, Marathon conducted extensive cleaning operations at affected facilities and denies that any permanent damages resulted from the incident. Marathon previously settled with many of the potential class members in this case and intends to vigorously defend this action.

Product Contamination Litigation

A lawsuit was filed in
the United States District Court for the Southern District of West Virginia and alleges that Marathon’s Catlettsburg, Kentucky refinery sold defective gasoline to wholesalers and retailers, causing permanent damage to storage tanks, dispensers
and related equipment, resulting in lost profits, business disruption and personal and real property damages. Class action certification was granted in August 2007. In 2002, Marathon conducted extensive cleaning operations at affected facilities and
denies that any permanent damages resulted from the incident. Marathon previously settled with many of the potential class members in this case and intends to vigorously defend this action.

STYLE="margin-top:12px;margin-bottom:0px">Environmental Proceedings

This excerpt taken from the MRO 10-Q filed Aug 8, 2005.

Product Contamination Litigation

A lawsuit was filed in the United States District Court for the Southern District of West Virginia and alleges that MAP’s Catlettsburg Refinery sold defective gasoline to wholesalers and retailers, causing permanent damage to storage tanks, dispensers and related equipment, resulting in lost profits, business disruption, and personal and real property damages.  Plaintiffs seek class action status.  In 2002, MAP conducted extensive cleaning operations at affected facilities, but denies that any permanent damages resulted from the incident. MAP previously settled with many of the potential class members in this case and intends to vigorously defend this action.

 

Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki