Norfolk Southern Settles Ohio Derailment Suit for $600 Million

Norfolk Southern has agreed to pay $600 million to settle a class-action lawsuit related to the fiery train derailment in East Palestine, Ohio, in February 2023, which involved 38 train cars, including 11 carrying hazardous chemicals. The settlement, which does not admit wrongdoing, aims to address potential adverse impacts for individuals and businesses within a 20-mile radius of the derailment, with compensation available for healthcare needs, property restoration, and business loss. The agreement, subject to federal judge approval, is expected to provide substantial compensation to affected residents and businesses, with payments potentially beginning by the end of the year.