Court Grants Preliminary Approval to Settlement in Class Action Brought by Avalon at Edgewater Tenants
On March 13, 2017, the United States District Court for the District of New Jersey issued an order which granted preliminary approval to a class action settlement involving a fire that occurred on January 21, 2015. The fire at issue occurred at AvalonBay’s Russell Building in Edgewater, New Jersey, and caused significant property damages to former tenants. The proposed settlement creates a procedure whereby former tenants of the Russell Building can submit their claimed losses for review by an independent adjustor. The amounts each tenant may recover are not capped in the settlement. The court has scheduled a hearing on July 11, 2017 to determine whether to grant final approval to the settlement.
A copy of the settlement agreement can be viewed below.