Title
Dept/ Agency: Law
Action: (X) Ratifying (X) Authorizing ( ) Amending
Purpose: Settlement of Civil Litigation
Docket No.: City of Long Beach, et al. v. Monsanto Company et al., Case No. CV 16-3493 FMO (ASx) (C.D.Cal)
Claimant: City of Newark, Class Action Member
Claimant's Attorney: Baron and Budd, PC, Lead Counsel and others
Settlement Amount: $4,520,000.00
Funding Source: Defendant, Monsanto Company
Additional Comments:
This is a Resolution accepting the Final Allocation of $4,520,000.00 to the City of Newark in the Class Action Litigation filed by the City Long Beach, California and others
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WHEREAS, on March 14, 2022, the District Court for the Central District of California approved a class action settlement in the City of Long Beach, et al. v. Monsanto Company et al., Case No. CV 16-3493 FMO (ASx) (C.D.Cal) for polychlorinated biphenyls ("PCBs") contamination of water bodies and stormwater systems caused by Monsanto, Pharmacia and Solutia. The Settlement Agreement established a funding system of 2,528 governmental entities whose waterbodies have been subjected to PCB contamination; and
WHEREAS, the claims certified for class-action treatment include claims that Monsanto's PCBs and PCB-containing products were defectively designed, that the risks of environmental harm associated with PCBs and PCB-containing products outweighed the benefits of their uses, that Monsanto failed to warn of the risks of harm associated with PCBs and PCB-containing products, and that Plaintiffs and the Settlement Class Members suffered property damage as a result of PCB contamination; and
WHEREAS, in the Class Action Settlement Agreement between the parties, Monsanto agreed to pay up to Five Hundred Fifty Million Dollars and Zero Cents ($550,000,000) as the total and maximum dollar amount Monsanto would be obligated to pay as a net class benefit provided the Court granted final approval...
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