FOR IMMEDIATE RELEASE
November 25, 2024, Baltimore, MD—Gallagher Evelius & Jones, a Baltimore-based law firm that has served a wide variety of legal needs for individuals, businesses, and non-profits throughout the Mid-Atlantic region for more than six decades, has reached a class settlement agreement with the Estate of Peter G. Angelos and The Law Offices of Peter G. Angelos, P.C. The class settlement agreement, which was approved by the Circuit Court for Baltimore City on November 22, 2024, will result in a gross settlement payment of $57 million for the benefit of thousands of Marylanders.
Gallagher brought the putative class action in February 2021 on behalf of three individual plaintiffs and thousands of current and former clients of the Angelos firm who participated in a 1994 settlement agreement with Baltimore-area asbestos installer MCIC, Inc. That settlement had been predicated on an agreement that MCIC’s insurers would pay over all available insurance to a settlement fund, for pro rata distribution to the claimants. The class action lawsuit arose from decisions by Maryland courts that Defendants waited too long to recover certain additional insurance that had not been disclosed by MCIC’s insurers. Defendants deny liability but agreed to the $57 million class settlement with the expectation that these funds will bring meaningful relief to Marylanders.
“Our team worked for years to bring about this excellent result for the class,” said Paul Caiola, lead counsel for the plaintiffs. “Thousands of families will receive meaningful payments through this settlement agreement. Gallagher is proud to devote its resources and expertise to advocating for just causes on behalf of members of our Baltimore community and beyond.”
This settlement attests to Peter Angelos’s legendary devotion to his clients and his determination to achieve the best possible outcomes for the thousands of workers he represented who were impacted by exposure to asbestos. The funds for this settlement come primarily from his estate.
“We are delighted that Peter’s legacy and the ongoing commitment of his family have ensured a resolution that serves to add further benefit for so many historic clients of our firm,” said Jay Miller, General Counsel of the Law Offices of Peter G. Angelos. “We look forward to continuing to honor his legacy through our work at the law firm he founded, and for which his name lives on.”
Notice of the class settlement was issued to class members earlier this year, and an initial tranche of payments is expected by the end of January 2025. Questions about the class settlement may be directed to Paul Mulholland, the court-approved class administrator, at 1-866-274-4004. Additional information is available at www.legalmalpracticeclassaction.com.
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