Nationwide Settles in Arkansas
Following on the heels of an earlier settlement of a class action filed in Pennsylvania, Nationwide Insurance has agreed settlement of a class action filed Arkansas. Under the terms of the proposed settlement plaintiffs will receive a payment equivalent to 20 percent of the amount they previously paid to cover repairs, less any overheads and profits previously paid to general contractors.Additionally, the named plaintiffs in the suit will each receive a $5000 cash award. Reimbursement for the plaintiffs' attorney's fees, costs and expenses totals $32 million.
Of note, the Pennsylvania settlement covers some 700,000 eligible plaintiffs, with a potential payout of $540 million. Attorney's fees for that peice of litigation were $9.5 million.
