Michael Shepard’s insights were featured in the The Lever’s article, “Wall Street Is Investing In Your Asbestos Poisoning”
Down the road, private equity firms may also try to use legal maneuvers like the “Texas two-step” to avoid paying claims — leaving future asbestos victims without any immediate recourse for their medical expenses.
“The companies that exposed people to asbestos are finding ways to evade having to pay for the harms that they have caused down the road,” said Shepard. “Victims moving forward may not have any recourse to pursue for their injuries because of what is taking place now.”
