Paint Manufacturers Loses Suit Over Lead
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A Rhode Island jury found that Sherwin-Williams Co. and two other former makers of leaded paint harmed the health of children in the state, a verdict that may cost the industry more than $1 billion in cleanup costs.
Shares of Sherwin-Williams shares plummeted $9.37 -- nearly 18% -- to $43.20. It was the stock’s steepest drop in nearly five years.
The state’s suit was one of the last remaining cases filed by a municipality or state over lead paint, which can cause brain damage and other health problems in children. Manufacturers said they had won 40 such suits since 1987.
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