Bridgestone/Firestone pays $41.5 million in settlement. (Corporate, financial news).
Bridgestone/Firestone, Nashville, TN, will pay $41.5 million in a
settlement to head off lawsuits by states over defective tires the
company recalled more than a year ago. Each of the 50 states,
Washington, D.C., Puerto Rico and the Virgin Islands will get $500,000.
Bridgestone/ Firestone will also spend $5 million on a consumer
education campaign and $10 million to reimburse attorneys' fees for
the states. Bridgestone/Firestone announced a recall of 6.5 million ATX,
ATX II and Wilderness AT tires August 9, 2000 after receiving reports
that some tires suddenly failed.