Friday, June 11, 2010
After second try, judge approves 9/11 settlement
Almost three months after sending the lawyers back to the bargaining table because he said that their original $657 million settlement agreement paid too little to injured rescue and cleanup workers, Southern District of New York Judge Alvin K. Hellerstein has given his stamp of approval to a renegotiated settlement of suits filed by 10,000 plaintiffs who suffered respiratory and other illnesses in the wake of the 9/11 terror attacks. The new settlement has a minimum value of $625M with 95% participation by the claimants, and as much as $712.5M if other conditions are met. The original settlement was for $575M to $657M. For more on the story, go here and here.