Sterling Bancorp Agrees to $12.5 Million Settlement with Oklahoma Police Pension & Retirement System

Sterling Bancorp Inc. agreed to pay $12.5 million to settle a class-action lawsuit filed by the $3.1 billion Oklahoma Police Pension & Retirement System, alleging the bank violated federal securities laws and artificially inflated its stock price.

The settlement was approved April 16 in U.S. District Court in Detroit, a court filing shows.

The Oklahoma City-based pension fund first filed the class-action lawsuit in July on behalf of investors who had purchased Sterling Bancorp common stock beginning Nov. 17, 2017 through March 17, 2020.

Read the source article at Pensions & Investments

Boy Scouts of America and The Hartford Enter $650 Million Settlement for Sex Abuse Claims

After years of legal dispute, The Hartford has entered into a settlement agreement and release with the Boy Scouts of America (BSA), wherein the insurer would pay $650 million (before tax) for sexual abuse claims against the BSA associated with policies mainly issued in the 1970s.

It is hoped that the settlement will receive court approval in the third quarter of 2021.

The agreement, which came to be following “extensive negotiations,” outlines that in exchange for The Hartford’s payment the BSA and its local councils will fully release the insurer from any more obligation under policies it had issued to the BSA and its local councils, a release said.

Read the source article at Insurance Business

Playland Operator Reaches $12 Million Bankruptcy Settlement

The Westchester County Board of Legislators last week approved a bankruptcy court settlement with Standard Amusements regarding the management of Playland Amusement Park in Rye.

The settlement, which the board approved 13-4, was negotiated by the county and Standard – the terms of which were previously approved by the bankruptcy court.

The agreement gives the county significantly improved terms compared with the 2016 agreement, which had become the subject of a dispute in Standard’s bankruptcy reorganization filing.

Read the source article at The Examiner News

Santa Fe Agrees To a $36M Settlement With the Firms Responsible For Constructing Its Water Project

The board of the Santa Fe city and county’s joint Buckman Direct Diversion agreed to a $36 million settlement last week in a lawsuit against firms responsible for designing and constructing the water project, the agreement shows.

The settlement wraps up a portion of a case the board filed in 2018 after a variety of issues were discovered with the river diversion, including concerns over piping and raw-water pumps.

The settlement was between CH2M Hill/Western Summit Constructors, referred to in the settlement as Joint Ventures Parties, which handled construction and design for the decade-old project.

According to the settlement documents, neither party admitted wrongdoing. The agreement does not include CDM Smith Inc., the firm that handled the project’s engineering work.

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Health Net Repaid $97.2M To Settle an Investigation Confirming It Over-Billed the U.S. For Veterans Care

A Rancho Cordova health insurance company has repaid $97.2 million to settle an investigation into inflated claims submitted to the U.S. Department of Veterans Affairs, federal prosecutors announced Tuesday.

Health Net Federal Services LLC agreed to the settlement after an audit by the VA Office of Inspector General revealed that Health Net had filed duplicate claims under a veterans healthcare contract. A follow-up investigation “confirmed the conduct,” the U.S. attorney’s office said. Health Net repaid $93.7 million-plus $3.5 million in interest.

“Providers must be held to the highest standard of care and must rigorously comply with their contractual obligations,” said Acting U.S. Attorney Phillip Talbert in a prepared statement.

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The U.S. Settles the 1800s Land Grabs With the Pembina Band of Chippewas for $59M

FARGO — A delegation that negotiated a treaty to obtain a large swath of the Red River Valley from the Ojibwe showed up with added persuasion: almost 300 soldiers and a Gatling gun.

Under the treaty negotiated at the “Old Crossing” of the Red Lake River in 1863, the Ojibwe would surrender 11 million acres in Minnesota and North Dakota. In return, they were to receive $20,000 annually for 20 years, while Native American traders who pushed for the treaty to open up the coveted Red River Valley would receive up to $100,000.

After the Senate significantly amended the treaty, some Ojibwe signers refused to endorse the revised agreement, forcing negotiation of a new treaty with somewhat more generous annual payments to the Natives the following year.

In spite of the revisions, Bishop Henry Whipple called the treaties “from beginning to end a fraud.” Those treaties, together with an agreement reached in 1892 that would compel the Ojibwe to sign away millions of more acres in North Dakota, would lead to more than a century of legal challenges and appeals to Congress.

Read the source article at Perham Focus

A Settlement With the Department of Agriculture Will Bring $715M in Food Stamps To Pennsylvania Households

(Pittsburgh) — A legal settlement between the U.S. Department of Agriculture and two Pennsylvania women who are food stamp recipients will result in $712 million in additional food stamp benefits for more than 650,000 of the lowest-income Pennsylvania households.

The settlement, which was announced Wednesday, follows months of litigation as well as a change in leadership at the federal agency after Joe Biden defeated Donald Trump in November.

At the center of the lawsuit was extra assistance for Supplemental Nutrition Assistance Program (SNAP) recipients included as part of The Families First Coronavirus Response Act, a bill passed by Congress in March 2020. However, the USDA, which administers the program, interpreted the law to mean the extra aid could only bring recipients up to the maximum benefit amount. That left those who were already receiving the maximum benefits – the lowest income families and individuals, representing about 40% of households in the program – with no additional aid during the pandemic.

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Seattle School District Agrees to a $4.25M Sexual Assault Settlement

ISSAQUAH, Wash. — A suburban Seattle school district this week agreed to pay $4.25 million to settle a lawsuit that accuses a former middle school teacher of sexually assaulting his student for nearly a decade.

According to the lawsuit, drama teacher Richard Buckley started “grooming” Courtney Dennis, when she was about 12 years old in the late 1990s at Issaquah Middle School.

Buckley was never criminally charged, and the statute of limitations has elapsed. In 2003, he was convicted of molesting Dennis’s younger sister.

“I’m glad it’s over,” Dennis told The Seattle Times in an interview Friday. “I’m so thankful to (my attorneys) — they fought so hard to seek justice for my family and I.”

Filing the lawsuit, she said, has been an important part of her healing process.

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USC Agrees To $1.1B Settlement for 710 Women Alleging Abuse by Gynecologist

The University of Southern California has agreed to pay more than $1 billion in settlements to those who accused former student health center gynecologist George Tyndall of repeated sexual assaults on female patients.

A Los Angeles County Superior Court approved a deal Thursday that would give 710 women who alleged that they were abused by Tyndall an $852 million settlement. That is in addition to a $215 million settlement that was given final approval last year as part of a different federal class-action lawsuit.

Tyndall was arrested in 2019 and charged with 18 counts of sexual penetration and 11 counts of sexual battery by fraud in cases involving multiple young women. Prosecutors also charged him with five counts of sexual penetration of an unconscious person and one count of sexual battery by fraud last year.

Read the source article at NBC News

Federal Trade Commission Sends $50M of the 2019 University of Phoenix Settlement to Eligible Students

The Federal Trade Commission secured a record $191 million settlement with the for-profit University of Phoenix in 2019 over deceptive marketing claims and announced on Wednesday that it is sending nearly $50 million in refunds to eligible students.

The FTC had sued the university for advertising partnerships with corporations including Yahoo and American Red Cross that in reality had no curricular ties to the school. The university did not acknowledge wrongdoing in the settlement, an FTC record for a for-profit educational entity. 

In the Wednesday press release, the FTC said it will be sending payments to more than 147,000 students “who may have been lured by allegedly deceptive advertisements.”

Read the source article at Business Insider