District Court, S.D. New York February 6, 1998, 96 CIV. 7600 DC (Lippe v. Bairnco Corp.)

OPINION

CHIN, District Judge.

In 1968, Keene Corporation (“Keene”) entered the asbestos products business by acquiring a company that manufactured and distributed insulation and other materials containing asbestos. The acquisition proved to be a profitable one at first, as Keene’s sales of asbestos products soared. In time, however, the decision to purchase the company proved to be disastrous.