5 P.M. CST, October 14, 2008
LOUISIANA CITIZENS PROPERTY INSURANCE CORPORATION
KATRINA/RITA CLASS ACTIONS SETTLED
Counsel for the “Louisiana Citizens’ Class Action Claims Center” in conjunction with counsel for Louisiana Citizens Property Insurance Corporation, announced a proposed settlement of their Hurricanes Katrina and Rita class action lawsuits today. “Louisiana Citizens’ Class Action Claims Center” counsel, Madro Bandaries, Gregory P. DiLeo, Jeffrey Berniard, and R. Ray Orrill, in coordination with Louisiana Citizens’ counsel, Hailey, McNamara, L.L.P., announced that on October 1, 2008, they filed a “Stipulation of Settlement” with the Honorable Judge Kern Reese in Civil District Court in New Orleans. The Court has scheduled a fairness hearing on the settlement on Monday, December 15, 2008 at 9:30 a.m.
Plaintiffs’ counsel’s fees and costs will be paid from the settlement proceeds. Each member of the Class who provides a timely claim form with the proper documentation will be eligible to receive payment from the settlement proceeds.
The claim forms were mailed to class members today and should be received within the next three to seven business days.
The Louisiana Citizens Board of Directors has reviewed the proposed settlement. Plaintiffs’ counsel and counsel for Louisiana Citizens agree that the meaningful settlement is fair and equitable and brings an end to three years of costly litigation.
The mailing address for class members is Louisiana Citizens Class Action Claims Center, P.O. Box 56833, New Orleans, Louisiana, 70156.
Plaintiffs’ counsel’s fees and costs will be paid from the settlement proceeds. Each member of the Class who provides a timely claim form with the proper documentation will be eligible to receive payment from the settlement proceeds.
The claim forms were mailed to class members today and should be received within the next three to seven business days.
The Louisiana Citizens Board of Directors has reviewed the proposed settlement. Plaintiffs’ counsel and counsel for Louisiana Citizens agree that the meaningful settlement is fair and equitable and brings an end to three years of costly litigation.
The mailing address for class members is Louisiana Citizens Class Action Claims Center, P.O. Box 56833, New Orleans, Louisiana, 70156.
