Court Endorses $330M Deal In Katrina Oil Spill

Law360, New York (January 30, 2007, 12:00 AM EST) -- A federal judge has approved a $330 million class action settlement between Murphy Oil USA Inc. and thousands of Louisiana residents who are angry over an oil tanker spill that leaked into their neighborhood during Hurricane Katrina.

On Tuesday, U.S. District Judge Eldon Fallon greenlighted the agreement, calling the settlement “fair, reasonable and adequate,” according to court documents.

In addition to the $330 million payout, Judge Fallon also approved more than $36 million in attorneys fees and costs to be footed by Murphy Oil.

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