One of the United States’ largest class-action lawsuits came to a close yesterday as American Indians and the federal government finalized a $3.4-billion settlement that would end a 17-year battle over squandered land trust royalties. Approximately 350,000 American Indian beneficiaries will receive a total of $1.5 billion, either $1,000 or $800 payouts, as soon as December via a mailed check.
Additionally, the government will use another $1.9 billion to purchase fractioned land allotments from current proprietors and return that land to the tribe. The deal also includes a government-funded scholarship for American Indian youth.
“These settlements fairly and honorably resolve historical grievances over the accounting and management of tribal trust funds, trust lands and other non-monetary trust resources that, for far too long, have been a source of conflict between Indian tribes and the United States,” said Attorney General Eric H. Holder Jr. in a statement.
