Monday, May 3, 2010

Cameron International (NYSE:CAM) Faces Lawsuits

Cameron International (NYSE:CAM) is among those with a connection to the Deepwater Horizon oil rig explosion who may face significant liability, as several lawsuits have been filed against them.

The particular possible vulnerability of Cameron relates to a fail-safe device they make for the oil well, which is supposed to prevent spills from happening.

Cameron officials recently stated they have liability insurance which covers up to $500 million, but said they have no way of knowing at this time if they are liable for the accident in any way.

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