Deepwater Judge OKs $1.2B Transocean, Halliburton Deals

Law360, New York (February 16, 2017, 2:39 PM EST) -- The Louisiana federal judge overseeing the sprawling multidistrict litigation over the Deepwater Horizon disaster on Wednesday gave final approval to a pair of settlements between the plaintiffs' steering committee and Transocean Ltd. and Halliburton Energy Services Inc. worth a combined $1.24 billion.

U.S. District Judge Carl J. Barbier said the deals — which will pay just over $903 million to a new, punitive damages class and just over $338 million to an assigned claims class, as determined by a federal magistrate judge — are fair, reasonable and adequate....
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