MIAMI, June 29 LAWFUEL – Press Release Service — Celebrity Cruises announced today that a federal court jury in New York has awarded Celebrity $193 million in a lawsuit against Essef Corp. Celebrity has remaining claims for interest and certain legal fees.
Celebrity filed suit against Essef Corp. for damages stemming from a
1994 outbreak of Legionnaires’ disease on Celebrity’s vessel Horizon.
Celebrity claimed for out-of-pocket losses, lost profits, and loss of
business enterprise value related to this incident.
Dan Hanrahan, President of Celebrity Cruises, stated: “This was a long awaited result for Celebrity Cruises. We feel vindicated by this verdict.
In the cruise industry, the safety of our guests and employees is
paramount.”
The verdict is subject to appeal and, due to the ongoing nature of the proceedings, the ultimate financial impact to Celebrity Cruises is
undetermined at this time. Any gain from this verdict will only be
recognized when the outcome is known with certainty.
Celebrity Cruises is a subsidiary of Royal Caribbean Cruises Ltd.
(NYSE: RCL; Oslo).
Royal Caribbean Cruises Ltd. is a global cruise vacation company that
operates Royal Caribbean International and Celebrity Cruises, with a
combined total of 29 ships in service and five under construction. The
company also offers unique land-tour vacations in Alaska, Canada and Europe
through its cruise-tour division. Additional information can be found on
http://www.royalcaribbean.com , http://www.celebrity.com or
http://www.rclinvestor.com
.
Certain statements in this news release are forward-looking statements.
Forward-looking statements do not guarantee future performance and may
involve risks, uncertainties and other factors, which could cause our
actual results, performance or achievements to differ materially from the
future results, performance or achievements expressed or implied in those
forward-looking statements. Such factors include general economic and
business conditions, vacation industry competition, including cruise
vacation industry competition, changes in vacation industry capacity,
including over capacity in the cruise vacation industry, the impact of tax
laws and regulations affecting our business or our principal shareholders,
the impact of changes in other laws and regulations affecting our business,
the impact of pending or threatened litigation, the delivery of scheduled
new ships, emergency ship repairs, negative incidents involving cruise
ships including those involving the health and safety of passengers,
reduced consumer demand for cruises as a result of any number of reasons,
including geo-political and economic uncertainties, the unavailability of
air service, armed conflict, terrorist attacks and the resulting concerns
over safety and security aspects of traveling, the impact of the spread of
contagious diseases, our ability to obtain financing on terms that are
favorable or consistent with our expectations, changes in our stock price
or principal shareholders, the impact of changes in operating and financing
costs, including changes in foreign currency, interest rates, fuel, food,
payroll, insurance and security costs, the implementation of regulations in
the United States requiring United States citizens to obtain passports for
travel to additional foreign destinations, weather, and other factors
described in further detail in Royal Caribbean Cruises Ltd.’s filings with
the Securities and Exchange Commission. The above examples are not
exhaustive and new risks emerge from time to time. We undertake no
obligation to publicly update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise. In
addition, certain financial measures in this news release constitute
non-GAAP financial measures as defined by Regulation G. A reconciliation of
these items can be found on our investor relations website at
http://www.rclinvestor.com .
