A fourth U.S. auto parts chain has confirmed that it is been named in asbestos-related lawsuits.
In response to questions regarding asbestos litigation disclosures by Advance Auto Parts Inc. and public statements issued by AutoZone, Inc. and Pep Boys, CSK Auto Corporation confirmed today that it has also been named from time-to-time as a defendant in lawsuits regarding the sale of friction products such as brake parts.
"Although the company is also involved in such litigation, as it has stated in prior public disclosures," said a statement from the company, "it does not believe that these lawsuits will be material, in the aggregate, to the company’s financial position or results of operations. CSK and its insurance carriers will continue to vigorously defend against these claims."
While no similar cases are known the Canada, it does raise the spectre of liability claims among service providers according to some, since the retail chains are defending themselves on the grounds that they cannot be liable since they only sold, but did not install, the asbestos bearing friction materials, mainly brake parts.
Of the four U.S. chains that have come forward so far, only Pep Boys has installation facilities.
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