Cooper applauds class action ruling

A New Jersey court has approved an agreement that resolves a series of class action lawsuits filed against Cooper Tire & Rubber Co. during 2001 and 2000.

The agreement originally received preliminary court approval last October.

"There was never a claim of personal injury or property damage involved in the lawsuits nor did anyone in the case ever ask for a recall," Cooper officials remarked in a statement issued late this afternoon.

The deal includes a five-year program offering free replacement tires to buyers "in the unlikely event a steel-belted radial tire (produced from 1985 through 2001) has an adjustable separation."

No cash will be awarded to plaintiffs as part of the settlement, according to Cooper.