July 23 (Reuters) - German chemical company BASF SE
on Thursday agreed to pay $72.5 million to settle a
class action fraud lawsuit over allegations its talc contained
asbestos and caused lung injuries and cancer, court documents
Under the agreement, compensation from the settlement fund
can be received by those who filed a lawsuit against the company
between March 1984 and March 2011 over asbestos-related
injuries, but had their lawsuit dismissed or voluntarily
The settlement still has to be approved by a judge.
BASF does not admit any wrongdoing and maintains the
allegations against it are unfounded and not true, according to
Thursday's filing in New Jersey federal court in Trenton.
The BASF litigation is separate from the roughly 19,400 talc
lawsuits filed against Johnson & Johnson over
allegations that asbestos in its talc powders causes cancer. J&J
denies the allegations, saying its talc products are safe.
(Reporting by Tina Bellon in New York
Editing by Chris Reese and David Gregorio)