Navajo Nation to settle trust mismanagement lawsuit for $554M
Posted: Monday, June 2, 2014
The Navajo Nation
is moving to settle a trust mismanagement settlement for $554 million.
The tribe sued the Interior Department
in 2006 for mismanagement of its trust funds and trust assets. After years of negotiation, the Navajo Nation Council
agreed to accept the settlement, which is the largest single tribal settlement so far.
“The agreement marks the successful conclusion of years of hard fought litigation and secures a very substantial award for the Navajo Nation,” Navajo Nation Council delegate Lorenzo Curley said in a press release
The deal still needs to be approved by President Ben Shelly
and by the Obama administration.
"The agreement marks the successful conclusion of years of hard fought litigation and we are grateful for the efforts of the BuckleySandler team in securing this very significant result for the Navajo Nation," Navajo Nation Attorney General Harrison Tsosie said in a press release
distributed by law firm BuckleySandler
Get the Story:
Navajo panel OKs deal to end trust-fund suit
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