600-million-dollar settlement for the East Palestine derailment last year?
From here:
“ATLANTA, April 9, 2024 – Norfolk Southern Corporation (NYSE: NSC) announced Tuesday that it has reached a $600 million agreement in principle to resolve a consolidated class action lawsuit relating to the East Palestine derailment.
If approved by the court, the agreement will resolve all class action claims within a 20-mile radius from the derailment and, for those residents who choose to participate, personal injury claims within a 10-mile radius from the derailment.”
“This settlement furthers the work Norfolk Southern has done to make it right in East Palestine and the surrounding communities. In addition to this settlement, Norfolk Southern has made contributions including:
· $104 million in community assistance to East Palestine and the surrounding areas in Ohio and Pennsylvania, including $25 million for a regional safety training centre, $25 million in planned improvements to East Palestine’s city park, $21 million in direct payments to residents, and $9 million to local first responders;
· $4.3 million to support upgrades to drinking water infrastructure;
· $2 million for community-directed projects;
· $500,000 grant for economic development; and
· Ongoing support to the community through the Family Assistance Center and programs such as the Interim Value Assurance Program.
“This agreement does not include or constitute any admission of liability, wrongdoing, or fault”.
Because companies always pay out 600 million plus when they did nothing wrong!
There is the usual excellent reporting from Just the News on the issue here:
Onwards!
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