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EnPro Shares Jump on Bankruptcy Court Ruling in Garlock Case

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Shares of EnPro Industries climbed in aftermarket trading Friday after a bankruptcy court judge confirmed the company won't have to set aside more money to cover mesothelioma claims against one of its subsidiaries, the Associated Press reported on Friday. Bankruptcy Judge George Hodges said that $125 million was enough to cover current and future mesothelioma claims involving Garlock Sealing Technologies. EnPro said in late 2011 that it thought it would need to set aside $270 million to cover those liabilities, but in July it lowered that total to no more than $125 million.