Judge Eyes $330M Settlement For Murphy Oil

Law360, New York (January 5, 2007, 12:00 AM EST) -- A class action brought by Louisiana residents against Murphy Oil USA Inc., whose oil tanker spilled into the neighborhood during Hurricane Katrina, is likely to be settled for $330 million, a federal judge indicated.

Following Thursday’s testimony by Gov. Kathleen Babineaux Blanco of Louisiana, U.S. District Court Judge Eldon Fallon suggested he would approve the deal, but would not reveal a definite decision until he publishes a written statement the coming days, said Mindy West, vice president and treasurer for Murphy Oil Corp., the parent company....
To view the full article, register now.