DATE: Saturday, November 1, 1997            TAG: 9711010585

SECTION: BUSINESS                PAGE: D1   EDITION: FINAL 

TYPE: Daily Briefing 

                                            LENGTH:   24 lines

LOUISIANA COURT SETS ASIDE HUGE VERDICT AGAINST VIRGINIA RAILROADS

The Louisiana Supreme Court vacated and set aside a $3.4 billion judgment against five companies, including Norfolk-based Norfolk Southern Corp. and Richmond-based CSX Corp. While the verdict still stands, the Louisiana court ruled that no judgment awarding damages could be entered in the case until all liability issues had been tried. Only 20 of the 8,000 claims have been tried. The huge judgment stems from a 1987 tank car fire and leak in a New Orleans rail yard. About 8,000 residents were evacuated and subsequently complained of various health problems. While neither railroad was found at fault in a federal investigation, a New Orleans jury handed down the huge verdict in September. CSX was hit with largest penalty, $2.5 billion; Norfolk Southern faced a $175 million judgment. Meanwhile, the firms continue to fight the verdict. KEYWORDS: VERDICT JUDGEMENT RULING

Send Suggestions or Comments to webmaster@scholar.lib.vt.edu