SPS Technologies and Parent Company Reach $5M Fire-Related Class Action Settlement
A class action settlement has been reached involving SPS Technologies, LLC (a subsidiary of Precision Castparts Corp.) following a fire at its former facility in Jenkintown, Pennsylvania from February 17 to 22, 2025. The incident led to shelter-in-place and evacuation orders affecting nearby residents and businesses. A $5 million Gross Settlement Fund will provide compensation for eligible claimants who suffered documented losses or damages. The settlement includes two categories of class members: business operators within a one-mile radius of the facility, and property owners, residents, and employees in that area. Payments may include up to $5,000 for unreimbursed business losses, $200 for lost wages, and $300 for property damage. Claimants must submit forms by December 3, 2026. The court will review the settlement on May 25, 2027 to approve attorney fees and other expenses from a portion of the fund.
