NiSource To Pay $143M Settlement For Merrimack Valley Incident

NiSource Inc. NI announced the settlement of a class action lawsuit regarding damages resulting from the Sept. 13, 2018 Merrimack Valley gas incident.

Around $1 billion in funds has been dedicated to address the needs of affected customers, residents and communities. The company will pay $143 million into a settlement fund for a class of plaintiffs, per the terms of the class action settlement.

"What happened last Septemberwas tragic, and we will always be mindful of its impact on our customers and everyone in the communities we serve, including those represented by this settlement,"said Joe Hamrock, CEO of NiSource. "Today marks another important step forward, as we continue to fulfill our commitment to residents and businesses. We are pleased that we have reached a resolution so swiftly, and we thank the mediator, as well as all involved who helped us achieve this result."

NiSource shares were trading up 0.25% at $29.58. The stock has a 52-week high of $29.75 and a 52-week low of $24.19.

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