Last October, the Fleming American Investment Trust (FAIT) agreed to pay $4 million to the US Environmental Protection Agency (EPA). This was in settlement of an action begun a year before, when the EPA had launched a $185 million action against the UK-listed investment trust for environmental damage.
There were several extraordinary aspects to this law suit. First, the alleged wrongdoing was almost 100 years old. The damage dated from the end of the last century when FAIT had an interest in a US railway company which involved in the construction of a bridge in Louisiana.
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