Kaiser Engineers settled two suits for $3 million.

The settlement resulted from two lawsuits that blamed the Oakland-based contractor and the officers and directors of Cincinnati Gas & Electric for problems with the never-completed Zimmer nuclear power plant. Lawyers for all of the parties represented in the settlement told a federal judge in Cincinnati that the agreement was a fair and reasonable way of avoiding a costly trial. Cincinnati Gas oversaw construction of Zimmer as majority owner of the project. Under the settlement of the suits, which were brought by two Cincinnati Gas stockholders, Cincinnati Gas will also receive $2.06 million from Aegis Insurance, the insurance company covering Cincinnati Gas' officers and directors.

Copyright © 2019, Los Angeles Times
EDITION: California | U.S. & World