Optichem Corporation is a manufacturer of toxic solvents. In October 2021, Optichem was notified of a class-action lawsuit involving one of its former products. Optichem's attorneys have advised it is highly likely they will be held liable for damages ranging from $3,500,000 to $9,000,000. They further advised that Optichem would likely be able to recover at least 50% of damages from their suppliers.

What should Optichem record and/or disclose as a result of the facts?

Answer rating: 100% (QA)

As a result of the classaction lawsuit and the advice from Optichems attorneys Optichem should recor... View the full answer