Citizens made an offer to 600 of Marshall Thomas Burnett’s clients to resolve pending sinkhole lawsuits. This follows the 300 offers to Thompson Trial Group’s clients, and the 300 with Boyette, Cummins & Nailos.
In the press release included below, you can see the process of how the proposed settlement will play out for the homeowners; however, the terms of the proposed settlement for attorney’s fees were not included in the release:
In this article regarding the first of these group settlements, I outlined my analysis on why these settlements make perfect sense for everyone, especially Citizens. By taking a top-down approach to these claims, Citizens was able to substantially reduce exposure while still giving the homeowners everything they needed.
The only question is “how to we get to these results one month after the lawsuit is filed, instead of after years of litigation?” As you know, my opinion is that software could have yielded the same results at a fraction of the costs.
In the press release, Citizens also stated it has approximately 2,000 sinkhole cases remaining. As always, we will keep you updated.
The billion dollar sinkhole claim industry keeps inching towards extinction.
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