#United States #Class Action #Jenkintown #SPS Technologies #Fire Settlement

Settlement Announced for SPS Technologies Fire Victims

On September 4, 2026, Kroll Settlement Administration LLC issued an important announcement regarding a settlement resulting from a class action lawsuit filed against SPS Technologies, LLC and its parent company, Precision Castparts Corp. This lawsuit pertains to a significant fire incident that occurred at the SPS facility in Jenkintown, Pennsylvania, from February 17 to February 22, 2025. During this period, local authorities issued shelter-in-place and evacuation orders that affected many individuals and businesses.

Background

According to the complaint, various individuals and entities allege that they suffered damages due to the fire incident. While the plaintiffs claim to have experienced impacts such as property damage, business interruptions, and injury, SPS Technologies and Precision Castparts deny any wrongdoing.

This settlement addresses the grievances of those impacted by the incident by potentially providing compensation for documented losses incurred during those days.

Who is Eligible?

The settlement defines two categories of impacted members:

1. Business Operator Settlement Class: This group includes any registered business entities, partnerships, or individuals operating a physical business location within a specific area around the SPS facility as of February 17, 2025.

2. Property Owner, Resident, and Employment Settlement Class: This group includes individuals owning property, residing, or employed at a physical business location within the aforementioned area as of the same date.

Further details regarding the geographical boundaries of the affected area can be found on the official settlement website.

Financial Aspects of the Settlement

If approved by the court, the settlement will establish a Gross Settlement Fund of $5,000,000 designated for cash payments to members of the Settlement Class. The funds will be allocated as follows:

• - Up to $5,000 for documented unreimbursed business losses.
• - Up to $200 for documented hourly employee lost wages.
• - Up to $300 for documented unreimbursed property damage losses.
• - Residual pro-rata cash payments for other eligible members.

The fund will also cover court-approved legal fees, costs, and administrative expenses associated with the settlement process.

Claim Submission and Deadlines

Settlement Class members must submit a Claim Form by December 3, 2026, either online or through the mail. For those interested in proceeding with their claims, more information is available at www.SPS-Settlement.com or by contacting the helpline at (833) 930-0975.

It is critical for affected parties to act on this settlement. Failure to submit a claim form will result in no compensation, and individuals will continue to hold the status of Settlement Class Members, forfeiting their right to pursue further legal action against SPS or PCC regarding claims stemming from the fire. Conversely, individuals wishing to retain their right to sue may exclude themselves from the settlement by opting out, but doing so will negate any potential compensation from this settlement.

Hearing and Objections

A court hearing is scheduled for May 25, 2027, to review the settlement's approval, including the allocation for attorney fees and other associated costs. Members of the Settlement Class or their legal representation can attend the hearing.

Conclusion

This settlement represents a significant step for those impacted by the SPS Technologies fire. Affected individuals and businesses are encouraged to stay informed and take the necessary actions to secure their possible compensation. Further updates will be provided as the court date approaches, and individuals are urged to check the official settlement website regularly.