Texas Jury Awards $4.7 Million in Case Against ALCOA; Case Settles Before Punitives Phase

HOUSTON –– A Texas jury has awarded more than $4.7 million to the daughters of a former ALCOA (NYSE:AA) worker at the conclusion of the first phase in an asbestos trial, but the parties reached a settlement agreement before jurors had a chance to deliberate on an award of punitive damages, sources told HarrisMartin.

The Texas 333rd District Court for Harris County jury reached the verdict on Jan. 22 after a trial presided over by Judge Joseph J. “Tad” Halbach Jr. Aluminum Company of America (ALCOA) was the lone remaining defendant at the time of the verdict.

The plaintiffs …