Plains All Americans to pay $230 million in 2015 oil spill class action (NASDAQ:PAA)

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Plains All American Pipeline (NASDAQ:PAA) agreed paid 230 million dollars to solve a class action lawsuit taken by fishermen and property owners in connection with the 2015 oil spill off Santa Barbara, California, officials announced Saturday.

The company will pay $184 million to affected people in the fishing industry and $46 million to property owners, according to court documents, if the settlement is approved by federal court. favorable.

Plains All Americans (PAA) operated 130 miles of pipeline used to transport crude oil from the Santa Barbara coast to domestic refining markets in California; it did not admit liability in the settlement, ending seven years of litigation.

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