Mets ownership and trustee Irving Picard have reached a settlement for $162 million, according to Richard Sandomir of the New York Times.
The Mets will not pay anything for three years.
Jury selection had been set to begin today, but it never got that far.
Both Fred Wilpon and Saul Katz, principal Mets owners, were in court when this settlement was announced.
“Litigation is behind us. I want to thank everybody. our partners were fantastic, Mario Cuomo great job,” Fred Wilpon said. “I am very, very pleased.”
“We have done no wrong and have always acted in good faith,” Saul Katz said. “This settlement bears this out. I thank everyone very much for their faith in us”
What started out as a $1 billion dollar claim against the Mets owners, ended up being a $29 million net loss for the Mets.
“Willful Blindness” claim was dropped by Picard.
Will the funds recovered be enough to pay Irving Picard’s fees?
Somehow I don’t think so. The victims lose again…
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9:50 AM – Settlement wi