The Indirect Purchaser in the Packaged Ice MDL settled their claims against Reddy Ice. Reddy Ice recently filed for bankruptcy protection in the United States Bankruptcy Court for the Northern District of Texas. The Indirect Purchaser class settled its claims against Reddy Ice for $700,000. By comparison, the Direct Purchaser class settled for $750,000 in cash (and another $250,000 if Reddy Ice and Arctic Glacier merge). The Bankruptcy Court certified a settlement class of all indirect purchasers of packaged ice in the continental United States from Reddy Ice, Arctic Glacier and Home City; and found the settlement to be fair, adequate and reasonable. Matthew Wild and Max Wild of the Wild Law Group PLLC were appointed class counsel. Class members were not permitted to opt-out because Reddy Ice’s insolvency created a limited fund from which all claimants should be permitted to recover on an equal basis. For more information (including pleadings), visit www.icesettlements.com.
Packaged Ice Indirect Purchasers Settled Claims Against One Defendant For More Than 90% of the Direct Purchasers’ Cash Settlement
Posted by : May 31, 2012| On :
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