Peter Kraus is a founding and managing partner of Waters Kraus Paul & Siegel and one of the nation’s leading trial lawyers in toxic tort and product liability litigation. For more than four decades, he has been at the forefront of litigation on behalf of people harmed by asbestos, toxic exposures and dangerous products. His work has helped shape the field of mesothelioma and asbestos litigation, from pursuing groundbreaking cases against manufacturers to securing consequential verdicts and settlements for individuals and families whose lives have been devastated by toxic exposure.
Peter is a skilled trial lawyer who has tried numerous asbestos, benzene exposure and pharmaceutical cases to verdict in state and federal courts across the country, obtaining many multimillion-dollar verdicts. His work has not only secured compensation for injured people but also helped bring about greater accountability and safer products and practices. He has played leadership roles in U.S. and Texas asbestos multidistrict litigation and served on asbestos bankruptcy creditor and trustee advisory committees. He has also served on the American Bar Association’s Commission on Asbestos Litigation.
Peter’s commitment to his clients extends beyond the courtroom. A longtime advocate for the rights of people injured by dangerous products, he has testified before the Texas Legislature and Congress on behalf of asbestos victims. He has provided guidance to lawmakers and policymakers on issues affecting injured people, product safety and the civil justice system. In January 2020, then-Speaker of the U.S. House Nancy Pelosi appointed Peter to a second five-year term on the board of the Federal Judicial Center Foundation.
Under his leadership, Waters Kraus Paul & Siegel has grown from its roots in asbestos litigation into a nationally recognized litigation firm with leading practices in several areas of complex injury litigation. The firm’s focus includes whistleblowers exposing fraud against the government under the False Claims Act; survivors of sexual abuse seeking justice from institutions and organizations that failed to protect them; and workers suffering from silicosis caused by occupational exposure to silica dust. Peter continues to play an active role in guiding the firm’s litigation strategy and its commitment to holding powerful corporations and institutions accountable.
The reason we take so many of our cases to trial is because a trial can provide a client with better results. Trials are harder, they take longer, they require more energy, research and manpower, but every client we have is worth it. If we didn’t feel that way, we wouldn’t be doing this.”
Peter Kraus
Spotlight
The Larry Schoenbrun Jurisprudence Award is presented annually by ADL Texoma to a member of the legal community for outstanding leadership, exemplary contributions to the community, and a commitment to the ideals of the Anti-Defamation League.
Our Results
Historic settlement for over 1,300 survivors of clergy and adult abuse within the Roman Catholic Archdiocese of Los Angeles, marking a pivotal moment for justice.
A Philadelphia jury awarded a record verdict against ExxonMobil for failing to warn about cancer risks due to benzene in its petroleum products.
Private equity firm and co-defendants agree to pay $25M in Medicaid fraud case alleging mental health services provided by unqualified providers.
Featured
December 9, 2025 CVS Pharmacy has agreed to pay $18.2 million to the United States and the State of California to resolve allegations that the company violated the federal and California False Claims Acts by submitting unsupported reimbursement claims to the Medi-Cal program. The settlement stems from a qui tam lawsuit originally filed by a former CVS pharmacist […] READ MORE
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