Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - FEDERAL SIGNAL CORP /DE/ | c62174e8vk.htm |
| EX-10.1 - EX-10.1 - FEDERAL SIGNAL CORP /DE/ | c62174exv10w1.htm |
Exhibit 99.1
News From
REGENCY TOWERS, 1415 W. 22ND ST., OAK BROOK, ILLINOIS 60523
FOR IMMEDIATE RELEASE
Federal Signal Corporation to Resolve Hundreds of Firefighter Claims After Significant Trial Victories
Oak Brook, Ill., January 10, 2011 — Federal Signal Corporation (NYSE: FSS), a leader in
environmental, safety and transportation solutions, announced today that it has reached a
settlement with 1,125 firefighters, represented by attorney Joseph Cappelli, in connection with
hearing loss claims. This agreement was reached after Federal Signal obtained complete defense
verdicts in consecutive recent trials involving the cases of 18 firefighter plaintiffs represented
by Mr. Cappelli. Federal Signal also prevailed on pretrial motions with respect to three other
plaintiffs represented by Mr. Cappelli.
Jennifer Sherman, Chief Administrative Officer, General Counsel and Secretary of Federal
Signal, said, “This settlement with 1,125 firefighters represents a very favorable development for
the Company in the hearing loss litigation. As demonstrated in our recent trial victories, as well
as our track record generally throughout this litigation, Federal Signal has strong defenses to
these claims and we are committed to defending our siren products and litigating these cases as
necessary. Sirens are necessary public safety products and save lives.”
Mr. Cappelli stated, “I am happy that we have been able to resolve these cases with Federal
Signal. Years of litigation and several trials have brought both sides to the point where
settlement makes sense. After extensively investigating fire departments in various states and
handling several hundred individual firefighter cases, I have concluded that most firefighter
claims are complicated and challenging cases to win. There are multiple obstacles to overcome to
achieve success in these cases, including the minimal exposure times to sirens and the fact that
Federal Signal has warned about the risk of hearing loss since 1986. I believe these were
significant factors in several jury trials in which Federal Signal prevailed.”
Under the settlement agreement, Federal Signal will make a payment of $3,800,000, reduced by
the percentage of firefighters who do not participate in the settlement. In order to receive any
payment, a minimum of 93% of certain claimants must participate in the settlement.
The settlement with these 1,125 firefighters follows dismissals of all hearing loss cases
filed against Federal Signal in Maryland, New Jersey, and Missouri during the past three years.
Federal Signal also won dismissal of similar hearing loss claims filed by four New York
firefighters, which was affirmed by an appeals court in 2009. Federal Signal remains a defendant
in hearing loss cases filed in Cook County, Illinois. In Cook County, Federal Signal obtained a
complete defense verdict in a consolidated trial involving 27 firefighter plaintiffs during 2008.
Federal Signal lost one jury trial in Cook County in February 2009 involving nine firefighters, the
verdict of which is under appeal. The claims of 74 other Cook County firefighters have been
dismissed over the course of this litigation. Federal Signal also lost a jury trial in
Philadelphia in March 2010 involving one
firefighter, in which the jury found the Company’s siren was not defective, but nonetheless
awarded damages for negligence.
About Federal Signal
Federal Signal Corporation (NYSE: FSS) enhances the safety, security and well-being of communities
and workplaces around the world. Founded in 1901, Federal Signal is a leading global designer and
manufacturer of products and total solutions that serve municipal, governmental, industrial and
institutional customers. Headquartered in Oak Brook, Ill., with manufacturing facilities worldwide,
the Company operates four groups: Safety and Security Systems, Environmental Solutions, Federal
Signal Technologies, and Fire Rescue. For more information on Federal Signal, visit:
http://www.federalsignal.com.
Contact:
Federal Signal
William Barker
Senior Vice President and Chief Financial Officer
+1-630-954-2000
wbarker@federalsignal.com
William Barker
Senior Vice President and Chief Financial Officer
+1-630-954-2000
wbarker@federalsignal.com
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