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.
