Dimock families settle with gas driller over fouled water

Markets Associated Press

Two families have settled their lawsuit alleging that one of Pennsylvania's biggest gas drillers contaminated their well water, six months after a federal judge threw out a multimillion-dollar jury verdict in the case.

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A court filing dated Sept. 21 says the lawsuit pursued by plaintiffs in Dimock against Houston-based Cabot Oil & Gas Corp. was "amicably resolved" following settlement talks.

Dozens of plaintiffs settled with Cabot in 2012, but two families opted to take their case to trial. A jury sided with the plaintiffs, ordering Cabot to pay $4.24 million.

A judge threw out the verdict in March, asserting the plaintiffs didn't present sufficient evidence against Cabot. The judge urged the parties to discuss a settlement before any retrial in the case.

Terms of the settlement were not released.