Norfolk Southern Offers Settlement to Resolve Lawsuits Related to 2023 Derailment from rypnx fund Watch Video

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✓ Published: 10-Apr-2024

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Norfolk Southern Offers , Settlement to Resolve Lawsuits , Related to 2023 Derailment.<br/>Train operator Norfolk Southern has agreed to pay $600 <br/>million as part of a settlement to a class-action lawsuit as <br/>part of a February 2023 derailment in East Palestine, Ohio.<br/>Train operator Norfolk Southern has agreed to pay $600 <br/>million as part of a settlement to a class-action lawsuit as <br/>part of a February 2023 derailment in East Palestine, Ohio.<br/>Associated Press reports that the agreement, which would <br/>resolve all class action lawsuits within a 20-mile radius <br/>from the derailment, is still pending court approval.<br/>Associated Press reports that the agreement, which would <br/>resolve all class action lawsuits within a 20-mile radius <br/>from the derailment, is still pending court approval.<br/>According to the agreement, the settlement would also <br/>resolve personal injury claims within a 10-mile radius of <br/>the accident site for residents choosing to participate.<br/>According to the agreement, the settlement would also <br/>resolve personal injury claims within a 10-mile radius of <br/>the accident site for residents choosing to participate.<br/>On April 9, Norfolk Southern said that <br/>the settlement does not constitute an <br/>admission of liability or fault for the fiery crash.<br/>The East Palestine derailment has already cost <br/>Norfolk Southern over $1.1 billion, including <br/>$104 million in aid for residents and the town. .<br/>The East Palestine derailment has already cost <br/>Norfolk Southern over $1.1 billion, including <br/>$104 million in aid for residents and the town. .<br/>AP reports that while the company has promised <br/>to create a fund to help pay for the community's <br/>long-term health needs, that fund has yet to be created. .<br/>AP reports that while the company has promised <br/>to create a fund to help pay for the community's <br/>long-term health needs, that fund has yet to be created. .<br/>Norfolk Southern CEO Alan Shaw said that the railroad operator is, “becoming a more productive and efficient railroad. .<br/>There is still more work <br/>to be done to achieve <br/>industry-competitive margins, Alan Shaw, Norfolk Southern CEO, via Associated Press.<br/>There is still more work <br/>to be done to achieve <br/>industry-competitive margins, Alan Shaw, Norfolk Southern CEO, via Associated Press.<br/>The operator reported preliminary Q1 earnings of <br/>23 cents per share, reflecting the impact of the settlement and cleanup costs for the derailment.