Amid recent Wall Street rumors that a national fund to pay asbestos victims’ claims, lawmakers said no agreement has been reached. The fund would be financed by asbestos litigation defendants and insurers with the idea that set amounts would be paid to victims of asbestos-related diseases, while ending their right to sue.

In an article published by Reuters, Senate Democratic Leader Tom Daschle said, “Contrary to market rumors, there has been no deal reached on the issue of asbestos.”

But lawmakers are still discussing the issue and are hopeful that a bipartisan solution can be reached, he said in a statement.

“A solution is needed that addresses the devastating impact asbestos has had both on individuals and businesses, and both leaders are working toward that goal,” Daschle said.

Companies have paid an estimated $70 billion on some 730,000 asbestos personal injury claims, making it the most expensive type of litigation in U.S. history, according to the RAND Institute for Civil Justice. According to the Wall Street rumors, lawmakers had agreed on the size of the asbestos fund, a key step in the fund’s approval, according to the Reuters article.

Asbestos stocks rose on rumors of the agreement on the proposed asbestos fund between Senator Bill Frist of Tennessee and Daschle of South Dakota. The two men said last month they would keep open the possibility of such a fund after an effort by a senior appeals court judge to mediate among asbestos companies, insurers and labor representatives failed.