CaesarStone Sdot-Yam (CSTE) has released an update.
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CaesarStone Sdot-Yam has been held liable in a U.S. lawsuit, with the jury awarding $52.4 million in damages to plaintiffs for silicosis claims, of which CaesarStone USA is responsible for $7.9 million. The company contests the verdict, citing proactive safety measures and plans to appeal, while maintaining that the financial impact will be mitigated by insurance and is not expected to be material to its financial statements. CaesarStone faces additional pending silicosis-related lawsuits, but cannot estimate potential exposure at this time.
For further insights into CSTE stock, check out TipRanks’ Stock Analysis page.
