Biz Brief: 9/11 Ground Zero Workers Get More in New Settlement
Lawyers for New York City and about 10,000 rescue and cleanup workers at Ground Zero, the site of the 9/11 terrorist attacks, have negotiated a new settlement, The New York Times reported. The workers sued the city after sustaining illnesses and injuries allegedly caused by the lack of protective equipment or adequate supervision, but the original settlement was rejected by the judge.
Under the new settlement, the city's insurer, the WTC Captive Insurance Company, will increase its payout to plaintiffs to $712.5 million, from a previous maximum payout of $657.5 million. Also, the plaintiffs' lawyers have agreed to reduce their fees to a maximum of 25% of the settlement amount, down from the 33.33%. As a result, the plaintiffs will get to keep an additional $50 million.