LOS ANGELES--(BUSINESS WIRE)--On April 24, 2023, Hon. David O. Carter of the Central District of California approved the Class Plaintiffs’ $50 million settlement with Amplify Energy Corporation, Beta Operating Company, LLC, and San Pedro Bay Pipeline Company, the three entities that owned and operated the San Pedro Bay Pipeline (collectively “Amplify”). The Plaintiffs are comprised of three classes—Fisher Class, Property Class, and Waterfront Tourism Class. The Class Plaintiffs are represented by Co-Lead Counsel Wylie A. Aitken of Aitken Aitken Cohen, Lexi J. Hazam of Lieff Cabraser Heimann & Bernstein, LLP, and Stephen G. Larson of Larson LLP.
Under the Settlement approved by the Court, Amplify will pay $34 million to the Fisher Class, $9 million to the Property Class, and $7 million to the Waterfront Tourism Class. In addition, Amplify has agreed to injunctive relief to help prevent future spills, including installation of a new leak detection system, use of remotely-operated vehicles to detect pipeline movement and allow rapid reporting to federal and state authorities, increased staffing on the off-shore platform and control room, and the establishment of a one-call alert system to report any threatened release of hazardous substances.
The Court also approved Plaintiffs’ Motion for Approval of Plaintiffs’ Plans of Distribution to the Fisher Class, Property Class, and Waterfront Tourism Class, as well as Plaintiffs’ Motion for Attorneys’ Fees and Expenses.
Finally, the settlement also permits Class Plaintiffs to continue seeking additional relief from the Shipping Defendants alleged to have dragged their anchors over the pipeline, causing its later rupture.