Average Class Action Settlement Trends

On July 17, 2004, Halliburton Co. obtained court approval of its $4.2 billion plan for the settlement of asbestos-mesothelioma claims, including a judge's signature on a Chapter 11 plan of reorganization which restructures assets and liabilities of a number of the company's major subsidiaries. U.S. Bankruptcy Judge Judith Fitzgerald - Pennsylvania - will allow subsidiaries KBR and DII Industries to emerge from Chapter 11 intact. These corporations must establish a trust fund with cash, stock or promissory notes to be used for payment of claims filed by asbestos-mesothelioma victims. Divided among an anticipated 400,000 claims, the average class action settlement will be approximately $10,000.

Increasing The Average Class Action Settlement

Members of a designated class which are included within the average class action lawsuit may choose to opt-out of settlements and trials. Instead, a personal cause of action may be pursued. In most cases, the amount of damages actually recovered from financially troubled defendants does not justify the cost of litigating a single suit. However, in cases involving grievous injuries, plaintiffs may recover substantially greater damages when pursuing damages alone.

The decision to accept or decline inclusion with the class should be made with the assistance of a well qualified personal injury lawyer.

See also: Plaintiff options accepting, or declining class action settlements, and trial potential - lawyer search issues.