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Stock impact report

Wabash to pay $300M less for 2019 liability case [Yahoo! Finance]

Wabash National Corporation (WNC) 
Last wabash national corporation earnings: 2/12 06:50 am Check Earnings Report
US:NYSE Investor Relations: ir.wabashnational.com
Company Research Source: Yahoo! Finance
After a months-long legal battle, Wabash National successfully lowered a $450 million verdict in punitive damages to $108 million, according to a March 20 securities filing A Circuit Court in St. Louis, Missouri, determined that the initial award went against the company's constitutional rights. The revised ruling comes as business groups decry the increasing prevalence of “ nuclear verdicts ” related to truck accidents. However, Wabash is not satisfied with the reduction and believes that the damages “remain abnormally high and the verdict is not supported by the facts or the law,” per a March 24 press release . Wabash said it will continue to evaluate all available legal options. The case pertains to a 2019 accident in which a passenger vehicle collided with the rear of a Wabash trailer, killing the driver and passenger. While the plaintiff argues that the trailer's rear guard failed, Wabash contests that the accident occurred long after the trailer was manufactured in compli Show less Read more
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