Court Reduces Judgement Against Eaton Corporation.Business Editors CLEVELAND--(BUSINESS WIRE)--March 29, 2001 Diversified industrial manufacturer Eaton Corporation This article is about an industrial manufacturer. For other meanings see Eaton. Eaton Corporation (NYSE: ETN) is a diversified industrial manufacturer with 2006 sales of $12.4 billion, putting it at 198 on the Fortune 500 for 2007. (NYSE NYSE See: New York Stock Exchange :ETN ETN Eaton Corporation (stock symbol) ETN Exchange Traded Note (investing) ETN European Travel Network ETN Electronic Tandem Network ETN Educational Telephone Network ) today said the Superior Court of Passaic County, New Jersey Passaic County is a county located in the U.S. state of New Jersey. As of the 2000 Census, the population was 489,049. Its county seat is Paterson6. It is part of the New York Metropolitan Area. , has reduced a product liability jury award rendered in February of this year against the company's Cutler-Hammer business unit to $15.5 million from $55 million. The case involved injuries suffered by an electrician in 1996. Eaton said the ruling by the court in reducing the award by $40 million is recognition that the verdict was clearly excessive and not supported by the evidence. The company said it will also appeal the reduced judgement because it continues to believe that there was no negligence on the part of the company and no defect in the product in question. Eaton Corporation is a global $8 billion diversified industrial manufacturer that is a leader in fluid power systems; electrical power quality, distribution and control; automotive engine Automotive engine The component of the motor vehicle that converts the chemical energy in fuel into mechanical energy for power. The automotive engine also drives the generator and various accessories, such as the air-conditioning compressor and power-steering air management and fuel economy; and intelligent truck systems for fuel economy and safety. Eaton's 59,000 employees work in 24 countries on six continents. For more information, visit www.eaton.com. |
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