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Ballantyne Strong, Inc Message Board

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  • bottomsupinvestor bottomsupinvestor Apr 10, 2009 2:24 PM Flag

    Stehman v Asbestos / BTN

    The only thing I know is what is from the 10K copied below. I don't expect a big impact but asbestos from long ago prior aquisitions has been a thorn in the side of many companies such as RPM and USG. Fortunately, this sounds like a single, isolated case.

    "Item 3. Legal Proceedings
    Ballantyne is currently a defendant in an asbestos case entitled Larry C. Stehman and Leila Stehman v. Asbestos Corporation, Limited and Ballantyne of Omaha, Inc. individually and as successor in interest to Strong International, Strong Electric Corporation and Century Projector Corporation, et al, filed December 8, 2006 in the Superior Court of the State of California, County of San Francisco. While we believe that we have strong defenses and intend to defend the suit vigorously, it is not possible at this time to predict the outcome of this case, or the amount of damages, if any, that a jury may award. The plaintiffs have made no monetary demand upon Ballantyne. It is possible that an adverse resolution of this case could have a material adverse effect on our financial position. The case is scheduled for trial to commence on May 26, 2009."

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