CRUM AND FORSTER TO APPEAL JUDGMENT IN MONSANTO CASE
CRUM AND FORSTER TO APPEAL JUDGMENT IN MONSANTO CASE BASKING RIDGE, N.J., April 22 /PRNewswire/ -- Crum and Forster, Inc.
("C&F"), said it will appeal the $71 million judgment entered yesterday against the company and four of its subsidiaries in a suit brought by Monsanto Company (NYSE: MTC) last October in the 71st District Court of Harrison County, Texas.
Monsanto alleged that C&F and its subsidiaries breached their duty of good faith and fair dealing and violated the Texas Insurance Code in handling claims brought against the chemical company in connection with a waste site in Houston. C&F and its insurer subsidiaries continue to deny any wrongdoing and are vigorously pursuing their announced intention to appeal the judgment which they strongly believe is contrary to the evidence and Texas law. As a result, C&F said the judgment will have no impact on its current results. Crum and Forster, Inc., is a Xerox Financial Services Company. -0- 4/22/92 /CONTACT: Andrew L. Letendre of Crum and Forster, 908-204-3758/ (XRX MTC) CO: Crum and Forster, Inc.; Monsanto Company ST: New Jersey, Texas IN: FIN CHM SU:
GK-HM -- NY086 -- 1384 04/22/92 15:02 EDT
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|Date:||Apr 22, 1992|
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