Court Reduces Judgement Against Eaton Corporation

    CLEVELAND--March 29, 2001--Diversified industrial manufacturer Eaton Corporation today said the Superior Court of Passaic County, New Jersey, has reduced a product liability jury award rendered in February of this year against the company's Cutler-Hammer business unit to $15.5 million from $55 million. The case involved injuries suffered by an electrician in 1996.
    Eaton said the ruling by the court in reducing the award by $40 million is recognition that the verdict was clearly excessive and not supported by the evidence. The company said it will also appeal the reduced judgement because it continues to believe that there was no negligence on the part of the company and no defect in the product in question.