Meracord Update: Fidelity Settlement
A settlement was reached this month between Plaintiffs and Fidelity & Deposit Company of Maryland ("Fidelity") in our pending Meracord litigation. Fidelity was one of the two surety companies that issued surety bonds on behalf of Meracord. (A settlement was reached in March 2016 with the other surety company, Platte River Insurance Company.)
The Fidelity settlement is still pending Court approval, so no details of the settlement are final until the Court approves the settlement. A fairness hearing is anticipated to occur around late September 2017. Under the settlement, Fidelity will pay $9,875,000. This amount will have to be divided among all Fidelity states and class members on a pro-rata basis.
For more information about the Fidelity settlement, the Platte River settlement, or the Meracord case, please visit www.meracordclassaction.com.
In addition to consumer protection class actions such as the above, The Paynter Law Firm PLLC also handles cases involving complex business litigation, personal injury, wrongful death, antitrust, nursing home, medical malpractice, and more. For more information about our firm, please visit our Areas of Practice page or contact us.