Ohio judge approves $600 million settlement for residents near fiery East Palestine train derailment [FOX News]
Norfolk Southern Corporation (NSC)
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Source: FOX News
A federal judge approved Norfolk Southern's $600 million class-action settlement offer, more than a year after the devastating East Palestine, Ohio derailment. Judge Benita Pearson approved the class-action settlements and a 27% fee for attorneys, overruling all objections. The $600 million, to be paid by Norfolk Southern, will compensate households and businesses within a 20-mile radius of the accident that submitted claims. The lawsuit had roughly 55,000 claims filed, with just 370 households and 47 businesses opting out. The only objections were from residents concerned that the settlement was rushed before individuals knew the extent of the potential health effects following the catastrophic Feb. 2023 train derailment. "These attorneys were bullying people and telling them they were never going to get any money if they didn't take this. People felt backed into a corner," resident Jami Wallace said. In August, a group of residents and attorneys unsuccessfully petitione
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- Norfolk Southern Co. (NYSE: NSC) had its price target raised by analysts at Evercore ISI from $265.00 to $276.00. They now have an "outperform" rating on the stock.MarketBeat
NSC
Earnings
- 7/25/24 - Beat
NSC
Sec Filings
- 9/24/24 - Form 8-K
- 9/17/24 - Form 4
- 9/13/24 - Form 144
- NSC's page on the SEC website