Honeywell, which sold Bendix in 2014, has had to revise its estimates for its Bendix-related asbestos liabilities.
According to Reuters,
The industrial conglomerate’s revised estimate for asbestos-related liabilities was $2.61 billion as of end-2017, some $1.09 billion higher than a prior estimate, a regulatory filing revealed.
The additional, previously undisclosed liabilities have resulted in at least one lawsuit from a shareholder.
Read more at Reuters or The Wall Street Journal.
UPDATE 11-6: Additional information about the class-action suit is here.