Archive | April, 2013

BREAKING NEWS: Bloomberg – Exide Technologies Bonds Fall to Record Low After Plant Closing


Bonds of Exide Technologies (XIDE), a lead-acid battery producer, plunged to the lowest level ever after California regulators ordered it to close a recycling unit because of health risks. The company’s $674.2 million of 8.625 percent, first-lien notes due February 2018 dropped 4 cents on the dollar to 65 cents to yield 20.5 percent at […]

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NEWS UPDATE / MEDIA ROUND-UP – California suspends operations at Exide’s Venon, CA plant because it “poses an unacceptable risk to human health and the environment”


 CALIFORNIA DEPARTMENT OF TOXIC SUBSTANCES CONTROL ORDER TO SUSPEND EXIDE VERNON’S OPERATIONS STATEMENT TO READ FULL STATMENT, CLICK HERE  CBS LOS ANGELES Vernon Facility Shut Down Over Lead, Arsenic Emissions VERNON ( —The state issued an emergency order forcing a recycling plant in Vernon to shut down after tests show it may have poisoned groundwater and […]

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Law firms filing class action lawsuits against Exide and certain officers on behalf of shareholders, investigating potential claims against board of directors due to issues including arsenic emissions from Vernon, CA plant and financial reporting


On March 22, 2013 the South Coast Air Quality Management District (AQMD) (air pollution regulation agency for all of Orange County, CA, and the Los Angeles urban area) announced it had reviewed and approved a health risk assessment from Exide Technologies showing that its Vernon facility is causing a potential health impact to residents in […]

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BREAKING NEWS: Standard & Poor’s places Exide’s credit, issue-level ratings on “Creditwatch with negative implications”


From – April 9, 2013   (link to story) “Standard & Poor’s Ratings Services said today that it placed its ‘B-‘ corporate credit rating and its issue-level ratings on Exide Technologies (Nasdaq: XIDE) on CreditWatch with negative implications. “We placed the ratings on CreditWatch with negative implications because of our view of an increased […]

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BREAKING NEWS: California Assembly Speaker calls for immediate action to be taken regarding threats to public health from Exide’s Vernon, CA plant


Assembly Speaker John A. Pérez today called on the California Department of Toxic Substances Control (DTSC) to take immediate action regarding the threats to public health from the Exide plant in Los Angeles. In a letter to DTSC Director Debbie Raphael, Speaker Pérez, who represents residents jeopardized by emissions from the plant, called for an […]

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BREAKING NEWS: Los Angeles City Council committee asks City Attorney to explore legal action against Exide for toxic plant emissions; inquires about employee cancer rate


By Elizabeth Hsing-Huei Chou, City News Service The City Council’s Energy and Environment Committee instructed the City Attorney’s Office and staff Wednesday to report back on how the city can take legal action against Exide Technologies, owners of a Vernon-based battery recycling facility recently cited for emitting potentially harmful levels of arsenic into nearby neighborhoods. […]

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BREAKING NEWS: Exide stock falls to $1.37 amid reports it has hired firm to advise on restructuring


From Bloomberg/Businesweek: Exide Technologies (XIDE), a maker of lead- acid batteries, dropped the most in almost nine years after Debtwire reported it hired Lazard and Akin Gump Strauss Hauer & Feld LLP to advise on a restructuring. Exide sank (XIDE) to $1.37 at the close in New York for the biggest one-day decline since April […]

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LA City Council irate over Exide’s arsenic emissions; Agency report states Exide’s plant’s cancer risk higher and affects more people than any of other 450 area facilities


From The Los Angeles Times: Los Angeles City Council members Wednesday expressed fury at recent revelations that arsenic emissions from a battery-recycling plant in nearby Vernon pose a danger to as many as 110,000 people, and called upon the city attorney to look into possible legal action. “I’m outraged. I’m appalled,” said Councilman Jose Huizar, […]

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