Plains All American to pay $ 230 million in class action lawsuit over oil spill in 2015 (NASDAQ: PAA)
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Plains All American Pipeline (NASDAQ: PAA) has agreed to pay 230 million. USD to run a class action lawsuit brought by fishermen and property owners related to an oil spill in 2015 off the coast of Santa Barbara, California, officials announced Saturday.
The company will pay $ 184M to those affected in the fishing industry and $ 46M to property owners, according to court documents, if the settlement is approved by a federal court.
Plains All American (PAA) operated 130 miles of pipeline used to transport crude oil from the Santa Barbara coast to California’s internal refinery markets; it did not admit liability in the agreement, which concludes seven years of litigation.
Plains All Americans (PAA) strong Q1 results and momentum drive make the devices a buy, writes HFIR MLPs in a bullish analysis recently published on Seeking Alpha.