PHILADELPHIA, Sept. 4, 2026 /PRNewswire/ — The following statement is being issued by Kroll Settlement Administration LLC regarding Cottrell v. SPS Technologies, LLC, Case No. 2026-14052 (C.P. Montgomery County).
A Settlement has been reached with SPS Technologies, LLC (“SPS”) and its parent company, Precision Castparts Corp. (“PCC”), in a class action lawsuit regarding a fire that occurred at the former SPS facility located at 301 Highland Avenue, Jenkintown, Pennsylvania 19406 (the “SPS Facility”) from February 17, 2025, through February 22, 2025 (the “Fire”), during which shelter-in-place and temporary voluntary evacuation orders were issued by Abington Township. The Plaintiffs allege that individuals and businesses were impacted, injured, or damaged by the Fire. SPS and PCC deny any wrongdoing.
There are 2 types of Settlement Class Members:
1) Business Operator Settlement Class, which includes all business entities, including individuals and partnerships doing business under a registered business name, that, as of February 17, 2025, operated a physical place of business within the Settlement Class Area, and
2) Property Owner, Resident, and Employment Settlement Class, which includes all individuals or entities who, as of February 17, 2025, owned real property, resided, or were employed at a physical place of business within the Settlement Class Area.
The Settlement Class Area is the area of Abington Township within a one-mile radius of the SPS Facility as of February 17, 2025. Also included are the Adjacent Area and the Voluntary Evacuation Zone. View a map of the Settlement Class Area on https://www.sps-settlement.com/other/map.
If approved by the Court, SPS will establish a Gross Settlement Fund of $5,000,000 to provide cash payments to eligible Settlement Class Members including payments for documented, unreimbursed business losses (up to $5,000); documented hourly employee lost wages (up to $200); documented, unreimbursed property damage losses (up to $300); and pro rata residual cash payments. The Gross Settlement Fund will also be used to pay court-approved attorneys’ fees and costs, service awards, and Settlement Administration Costs.
To be eligible for any payment, you must submit a Claim Form online or by mail by December 3, 2026. The Claim Form is available on www.SPS-Settlement.com or by calling (833) 930-0975. If you do nothing, you will not receive a Settlement Payment, you will remain a Settlement Class Member, and you will give up your rights to sue SPS, PCC, and certain related parties for claims related to the Fire released under the Settlement. If you want to keep your right to sue, you must exclude yourself. If you do so, you will not be included in the Settlement Class, and you will not get a payment. If you do not opt out, you may object to the Settlement and ask the Court for permission to speak at the Final Approval Hearing. The deadline to Opt-Out or Object is November 3, 2026.
The Court will hold a hearing on May 25, 2027, to decide whether to approve the Settlement of up to $1,750,000 of the Gross Settlement Fund for reasonable attorneys’ fees, costs, and expenses, as well as services awards of $2,500 to the Class Representatives. You or your lawyer may attend the hearing at your own expense.
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SOURCE Kroll Settlement Administration LLC
