INDIANAPOLIS, Aug. 31 -- A federal judge today gave final approval to a class action settlement that will pay millions of dollars of cash and create a new telecommunications company for the benefit of more than 50,000 landowners in 15 states. Nels Ackerson, lead attorney for the landowners, said, "This is the largest settlement ever reached for rights to install fiber optic cable, and it creates more value for landowners than any other settlement."
Landowners in the class will be entitled to receive cash and a percentage of future fiber optic cable revenues. In addition, the landowners will own a newly created telecommunications company, which has been tentatively named Class Corridor, LLC.