"Shorenstein knows that the accident of March 9, 2002 has had a terrible effect on the families of those killed and those who were injured," says Bruce Duffield of Lord, Bissell & Brook LLP, an attorney representing the San Francisco-based company. "We are gratified that they will receive substantial compensation for this tragedy."
Shorenstein will pay 10% of the settlement, or $7.5 million, according to a spokesperson. Shorenstein Properties LLC owns the 888,458 sf of office space and 144,462 sf of retail space in the 100-story building at 875 N. Michigan Ave., which also includes residential condominiums on 49 floors. Shorenstein Realty Services manages the 36-year-old building.
Clifford Law Offices and Corboy & Demetrio represented the plaintiffs.
The scaffolding accident led to a proposed ordinance before the city council requiring permits and setting regulations for scaffolding companies, as GlobeSt.com previously reported. The Chicago City Council passed a version of the scaffolding ordinance on July 31, 2002.
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