Judge Approves Settlement in Marcellus Shale Class-Action Lawsuit
On Tuesday, March 22, 2011
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According to an article in the Pittsburgh-Tribune, "An Erie federal judge has approved a class-action settlement between a Texas-based gas firm drilling in the Marcellus shale and about 25,000 Pennsylvania landowners.
U.S. District Judge Sean McLaughlin approved a settlement -- which was agreed upon last year -- that gives the landowners about $1.3 million initially and increases their royalties by an estimated $16.6 million over the next five years. The attorneys for the landowners would receive $437,500 initially and $4.2 million over the next five years.
The landowners claimed in the 2008 lawsuit that Range Resources was improperly calculating royalty payments. The company denies it was wrong in the settlement, but agreed to change its methodology."
U.S. District Judge Sean McLaughlin approved a settlement -- which was agreed upon last year -- that gives the landowners about $1.3 million initially and increases their royalties by an estimated $16.6 million over the next five years. The attorneys for the landowners would receive $437,500 initially and $4.2 million over the next five years.
The landowners claimed in the 2008 lawsuit that Range Resources was improperly calculating royalty payments. The company denies it was wrong in the settlement, but agreed to change its methodology."
