Halliburton (HAL) announced an agreement to settle the Erica P. John Fund class action lawsuit that has been pending in the District Court for the Northern District of Texas for over 14 years. The company will fund approximately $54 million of the $100 million settlement fund, and its insurer will fund the balance. The company noted that the Lead Plaintiff's counsel is expected to seek an award of fees and costs from the settlement fund.
The class action lawsuit was originally filed in 2002 asserting claims in connection with accounting for long-term construction projects, and was amended in 2003 to include claims related to asbestos liability disclosures.
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April 24, 2026 15:15 ET Economics news flow was relatively light this week even as the conflict in the Middle East continued, raising concerns for policymakers. In the U.S., spending data, initial jobless claims and pending home sales were the highlights. Business confidence in the biggest euro area economy was in focus in Europe. Inflation data from Japan gained attention in Asia.