NASHVILLE, Tenn. (Oct. 4, 2002) — A federal district judge has thrown out two shareholder lawsuits that accused Bridgestone Corp. of deliberately withholding information about product defects at its Bridgestone/Firestone subsidiary in order to inflate stock value.
Judge Robert Echols of the U.S. District Court for the Middle District of Tennessee ruled that plaintiffs "failed to produce a strong inference" that Tokyo-based Bridgestone knowingly lied about alleged defects that led to the recall of 6.5 million Firestone tires in August 2000.
A BFS spokesman called Judge Echols´ decision "well-reasoned and sound." George Barrett, a Nashville attorney representing the plaintiffs, said "the probability is high" that they will appeal.