Carnival (CCL) Proposes Settlement in Costa Concordia Incident
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Carnival Corp. (NYSE: CCL)(NYSE: CUK) shares are trading higher following reports of retribution for the passengers who were aboard the ill-fated Costa Concordia.
According to Reuters, Carnival is aiming to reimburse passengers about about $14,500 to the 3,000 on the liner when it sank a few weeks ago. Total cost would be more than $43.5 million to Carnival.
The offer was negotiated by consumer groups and Costa Cruises to stem legal fallout of the accident. Costs related to the cruise and travel will also be reimbursed.
Acceptance of the offer will have passengers drop all further litigation. There is another group which is seeking €125,000 (about $164,000) for each passenger in a class action settlement.
Carnival shares are up 0.3 percent on the session Friday.
According to Reuters, Carnival is aiming to reimburse passengers about about $14,500 to the 3,000 on the liner when it sank a few weeks ago. Total cost would be more than $43.5 million to Carnival.
The offer was negotiated by consumer groups and Costa Cruises to stem legal fallout of the accident. Costs related to the cruise and travel will also be reimbursed.
Acceptance of the offer will have passengers drop all further litigation. There is another group which is seeking €125,000 (about $164,000) for each passenger in a class action settlement.
Carnival shares are up 0.3 percent on the session Friday.
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