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Bridgestone/Firestone settles $1 billion lawsuit

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Bridgestone/Firestone (BFS) Inc. has reached a settlement with a Texas family that was suing the tiremaker for $1 billion.

The settlement amount has not been disclosed.

The lawsuit stems from a March 2000 Ford Explorer roll-over accident that left a woman paralyzed.

Plaintiffs said the crash was caused by a defective Firestone tire.

The McAllen, Texas, jury handling the case had been deliberating for several days.

"We are glad we were able to reach a resolution with the family," BFS said in an official statement issued this morning.

The family reached an out-of-court settlement with Ford Motor Co. last month for a reported $6 million.

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