Not Involved in Lead Paint Companies? Ignore This Case At Your Peril

Implications: The outcome of this case has liability implications for industries beyond those potentially on the hook for lead paint. Invested in the energy sector? Pharmaceuticals? Biotech? Nanotech? Tech? This case is worth your attention.

Analysis: While the particular issue in this case is liability for lead paint, the legal theory for the case -- and the remedy -- are entirely novel.

If the "public nuisance" case goes forward, an entire cottage industry of plaintiffs lawyers will arise to try new applications of the theory. Cigarette plaintiffs said "Lead paint is the new tobacco."  Well, with regard to a revenue stream for themselves, they were onto something.

What is the new lead paint? Check your portfolio, you probably own it. Pharmaceutical remnants in the water supply? Sounds like a public nuisance to me.

If the novel public nuisance theory continues to advance, even only in Rhode Island, a wide range if industries face significant -- and hard to evaluate -- liability threats.