SPS Technologies and Precision Castparts Corp. reach $5M settlement in Jenkintown fire lawsuit

PHILADELPHIA, Sept. 4, 2026 /CourierPR/ -- SPS Technologies and Precision Castparts Corp. have reached a settlement in a class action lawsuit related to a fire that occurred at the SPS facility in Jenkintown, Pennsylvania, from February 17 to 22, 2025. The fire, which prompted shelter-in-place and temporary evacuation orders, affected individuals and businesses in the area.

The settlement involves a Gross Settlement Fund of $5 million, which will be distributed to eligible Settlement Class Members. The Settlement Class is divided into two categories: Business Operators and Property Owners, Residents, and Employees.

Business Operators, including those operating a physical place of business within the Settlement Class Area, are eligible for cash payments for documented, unreimbursed business losses (up to $5,000), documented hourly employee lost wages (up to $200), and documented, unreimbursed property damage losses (up to $300). Property Owners, Residents, and Employees who owned real property, resided, or were employed at a physical place of business within the Settlement Class Area are eligible for pro rata residual cash payments.

The Settlement Class Area is defined as the area of Abington Township within a one-mile radius of the SPS Facility as of February 17, 2025, including the Adjacent Area and the Voluntary Evacuation Zone. A map of the Settlement Class Area is available at https://www.sps-settlement.com/other/map.

Eligible individuals and businesses must submit a Claim Form online or by mail by December 3, 2026, to receive payment. Claim Forms are available on www.SPS-Settlement.com or by calling (833) 930-0975. Failure to submit a Claim Form will result in no payment and the continuation as a Settlement Class Member, with the loss of the right to sue SPS, Precision Castparts Corp., and certain related parties for claims related to the fire.

Those who wish to retain the right to sue can exclude themselves from the settlement by opting out by November 3, 2026. Exclusion from the settlement class means no payment and the ability to pursue individual legal action.

The Court will hold a hearing on May 25, 2027, to approve the settlement, which includes up to $1.75 million for reasonable attorneys' fees, costs, and expenses, and service awards of $2,500 to the Class Representatives. The public or their lawyers may attend the hearing at their own expense.