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Law Firm Says Caterpillar Settles Engine Fire Lawsuit For $46 Mln

Law firm of Cunningham Bounds, LLC said Tuesday that it has obtained a $46 million settlement for its clients, Bender Shipbuilding and Repair Company, Inc. and an international ship operator, in a product liability lawsuit filed against Caterpillar, Inc. (CAT) for an explosion and fire caused by a defective engine onboard the M/V Sherman, a ship that was under construction at the time.

In October 2005, Bender Shipbuilding entered into a contract with the ship operator for the construction of a series of state-of-the-art vessels, including the M/V Sherman. The contract price for the M/V Sherman was almost $27 million. On May 14, 2008, while the vessel was still under construction, one of its 3516B Caterpillar marine engines threw a rod during routine testing, causing a massive fire that burned the ship to its hull. Everyone who was on the ship at the time of the explosion was safely evacuated.


A three week jury trial in the case had been scheduled to start soon, according to Cunningham Bounds.

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