Study Highlights Devastating Impact of Asbestos Bankruptcies:
Litigation Has Left Tens of Thousands of Pink Slips, Millions in Lost Market Value in Its Wake

Asbestos litigation is having an impact on more than just the companies named in the complaints.

According to a recent study commissioned by the American Insurance Association and undertaken by Marina del Ray, Calif.-based Sebago Associates, employees working for the more than 60 companies that have succumbed to the litigation and filed for Chapter 11 bankruptcy protection are suffering as well.

The study, released in December, suggests that the current system of paying asbestos claims imposes significant costs not only on the businesses named in the litigation, but also on their individual employees. As a result, as many as …