$3.5M contamination settlement

LAKE CHARLES, La. — A federal court in Louisiana gave preliminary approval to a settlement offer by two oil companies to resolve a proposed class action brought by residents and property owners of a rural Louisiana parish, according to whom the companies are responsible for contaminating their land and aquifer. The companies will pay $3.5 million into an escrow account for costs associated with the suit, including toxicology, doctors, air and water modelers and more, but not attorney fees.