• bitcoinBitcoin(BTC)$77,437.001.29%
  • ethereumEthereum(ETH)$2,480.621.64%
  • tetherTether(USDT)$1.000.00%
  • binancecoinBNB(BNB)$751.513.68%
  • rippleXRP(XRP)$1.321.73%
  • usd-coinUSDC(USDC)$1.00-0.01%
  • solanaSolana(SOL)$105.445.85%
  • tronTRON(TRX)$0.3358310.14%
  • zcashZcash(ZEC)$1,499.6010.54%
  • Figure HelocFigure Heloc(FIGR_HELOC)$1.03-0.15%
  • HyperliquidHyperliquid(HYPE)$87.6210.77%
  • dogecoinDogecoin(DOGE)$0.0841774.01%
  • moneroMonero(XMR)$530.826.62%
  • USDSUSDS(USDS)$1.000.03%
  • whitebitWhiteBIT Coin(WBT)$79.761.40%
  • RainRain(RAIN)$0.012882-0.19%
  • chainlinkChainlink(LINK)$11.795.68%
  • leo-tokenLEO Token(LEO)$8.91-0.36%
  • cardanoCardano(ADA)$0.2133568.22%
  • stellarStellar(XLM)$0.1868382.53%
  • uniswapUniswap(UNI)$8.5026.44%
  • bitcoin-cashBitcoin Cash(BCH)$247.0111.75%
  • Ethena USDeEthena USDe(USDE)$1.000.00%
  • daiDai(DAI)$1.00-0.01%
  • nearNEAR Protocol(NEAR)$3.4929.27%
  • USD1USD1(USD1)$1.000.01%
  • CantonCanton(CC)$0.10900810.53%
  • litecoinLitecoin(LTC)$54.885.01%
  • the-open-networkGram (prev. Toncoin)(GRAM)$1.362.82%
  • avalanche-2Avalanche(AVAX)$7.894.90%
  • hedera-hashgraphHedera(HBAR)$0.0760863.15%
  • Global DollarGlobal Dollar(USDG)$1.00-0.01%
  • suiSui(SUI)$0.787.65%
  • shiba-inuShiba Inu(SHIB)$0.0000056.34%
  • crypto-com-chainCronos(CRO)$0.0585680.34%
  • MemeCoreMemeCore(M)$1.2713.89%
  • paypal-usdPayPal USD(PYUSD)$1.000.02%
  • BittensorBittensor(TAO)$241.187.27%
  • tether-goldTether Gold(XAUT)$4,386.481.89%
  • Circle USYCCircle USYC(USYC)$1.140.01%
  • BlackRock USD Institutional Digital Liquidity FundBlackRock USD Institutional Digital Liquidity Fund(BUIDL)$1.000.00%
  • okbOKB(OKB)$114.182.23%
  • Ripple USDRipple USD(RLUSD)$1.000.00%
  • Ondo US Dollar YieldOndo US Dollar Yield(USDY)$1.140.17%
  • aaveAave(AAVE)$134.279.62%
  • AsterAster(ASTER)$0.752.51%
  • Pump.funPump.fun(PUMP)$0.0042809.80%
  • mantleMantle(MNT)$0.584.60%
  • polkadotPolkadot(DOT)$1.1312.18%
  • pax-goldPAX Gold(PAXG)$4,386.471.83%
TradePoint.io
  • Main
  • AI & Technology
  • Stock Charts
  • Market & News
  • Business
  • Finance Tips
  • Trade Tube
  • Blog
  • Shop
No Result
View All Result
TradePoint.io
No Result
View All Result

Norfolk Southern reaches $600 million settlement to settle East Palestine derailment suit

April 9, 2024
in Market & News
Reading Time: 3 mins read
A A
Norfolk Southern reaches 0 million settlement to settle East Palestine derailment suit
ShareShareShareShareShare

Gene J. Puskar/AP

This photo taken with a drone shows portions of a Norfolk Southern freight train that derailed Friday night in East Palestine, Ohio, are still on fire at mid-day Saturday, Feb. 4, 2023. The rail company announced it has reached a $600 million settlement with residents affected by the derailment.

YOU MAY ALSO LIKE

Why Lindsay Clancy’s lawyer wheeled her to judge’s sidebar

Battleground Republican declines to say whether he’d welcome Trump on the campaign trail


New York
CNN
 — 

Norfolk Southern has reached a $600 million settlement that, if approved by a court, will resolve all class-action lawsuits within 20 miles of its 2023 East Palestine, Ohio, derailment that spilled more than a million pounds of hazardous chemicals into the soil, water and air.

The rail company said the settlement is intended to offset costs related to the spill that sent a plume of toxic smoke into the air and displaced many residents and businesses. But Norfolk Southern didn’t admit to any liability or wrongdoing as a result of the settlement.

“Individuals and businesses will be able to use compensation from the settlement in any manner they see fit to address potential adverse impacts from the derailment,” the company said in a statement. “This could include healthcare needs and medical monitoring, property restoration and diminution, and compensation for any net business loss.”

The settlement also allows residents within 10 miles of the derailment to receive additional compensation.

In a court filing Tuesday, the plaintiffs said they expected to file a motion for the judge to approve the settlement within 10 days.

Following the February 3, 2023, Norfolk Southern freight train derailment, residents were ordered to evacuate temporarily. State and federal environmental officials say testing shows the air and water in the town is now safe, but some residents still complain of health problems, including burning sensations in their eyes, tingling in their lips, heaviness in their chest and swelling of lymph nodes in their necks and groins.

Since then, the company says it has spent $104 million in community assistance to East Palestine and the surrounding areas, $4.3 million to upgrade the area’s drinking water infrastructure and $500,000 for economic development, among other contributions.

But several class-action lawsuits say the company hasn’t done enough to remediate the toxic chemicals released into the area. They also blamed Norfolk Southern for negligence.

Among the questionable decisions the company made was a massive, controlled burn that released toxic chemicals into the air three days after the derailment. The rail company said there was an imminent risk of an uncontrolled explosion if the chemicals were not released and burned off. The officials on the ground who authorized the controlled burn were told they had only minutes to make the decision before an explosion.

But the chair of the National Transportation Safety Board testified last month at a Senate hearing that the controlled burn was unnecessary.

Shares of Norfolk Southern (NSC) fell 2% in premarket trading.

This is a developing story and will be updated.

Credit: Source link

ShareTweetSendSharePin

Related Posts

Why Lindsay Clancy’s lawyer wheeled her to judge’s sidebar
Market & News

Why Lindsay Clancy’s lawyer wheeled her to judge’s sidebar

September 18, 2026
Battleground Republican declines to say whether he’d welcome Trump on the campaign trail
Market & News

Battleground Republican declines to say whether he’d welcome Trump on the campaign trail

September 18, 2026
JD Vance says U.S. is not at ‘war’ with Iran
Market & News

JD Vance says U.S. is not at ‘war’ with Iran

September 18, 2026
Thieves in U.K. steal thousands of pints worth of Guinness
Market & News

Thieves in U.K. steal thousands of pints worth of Guinness

September 18, 2026
Next Post
We Surprised Adam Khoo on his 50th Birthday!

We Surprised Adam Khoo on his 50th Birthday!

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Search

No Result
View All Result
Animal control officers in Detroit chase pigs around

Animal control officers in Detroit chase pigs around

September 17, 2026
I Turned  into ,875 in 10 Trades

I Turned $50 into $21,875 in 10 Trades

September 12, 2026
Apple’s Foldable iPhone Duo Is Here, What We Know

Apple’s Foldable iPhone Duo Is Here, What We Know

September 12, 2026

About

Learn more

Our Services

Legal

Privacy Policy

Terms of Use

Bloggers

Learn more

Article Links

Contact

Advertise

Ask us anything

©2020- TradePoint.io - All rights reserved!

Tradepoint.io, being just a publishing and technology platform, is not a registered broker-dealer or investment adviser. So we do not provide investment advice. Rather, brokerage services are provided to clients of Tradepoint.io by independent SEC-registered broker-dealers and members of FINRA/SIPC. Every form of investing carries some risk and past performance is not a guarantee of future results. “Tradepoint.io“, “Instant Investing” and “My Trading Tools” are registered trademarks of Apperbuild, LLC.

This website is operated by Apperbuild, LLC. We have no link to any brokerage firm and we do not provide investment advice. Every information and resource we provide is solely for the education of our readers. © 2020 Apperbuild, LLC. All rights reserved.

No Result
View All Result
  • Main
  • AI & Technology
  • Stock Charts
  • Market & News
  • Business
  • Finance Tips
  • Trade Tube
  • Blog
  • Shop

© 2023 - TradePoint.io - All Rights Reserved!