SPS Technologies Fire Settlement: Claim Types and Who Qualifies

• The notice allows an eligible Settlement Class Member to seek payment under one of four claim types: Business Loss, Employee Lost Wages, Property Damage, or Residual Settlement Fund.
• There are added restrictions. For example, a Business Loss claimant cannot also make a Residual claim or an Employee Lost Wages claim for themself or a household member who works for that business. A person who receives payment for property damage or lost wages also cannot receive an additional residual payment.

A Business Loss Claim covers qualifying lost profits and out-of-pocket expenses during the two-day closure period. The payment cannot exceed $5,000. The notice gives detailed rules for calculating lost profits: average daily net profit on Tuesdays and Wednesdays during the prior 24 weeks, multiplied by the number of closure days, up to two days.

• The business must have been closed in whole or part during February 18–19, 2025.
• For lost profits, the notice calls for records showing both revenue and expenses. It lists examples such as profit-and-loss statements, sales reports, bank statements, payroll records, invoices, utility bills, lease records, tax filings, and financial statements.
• For out-of-pocket expenses, provide records such as invoices, receipts, payment records, contracts, or other third-party expense records.
• You also need independent evidence that the business was closed. Handwritten receipts or summaries prepared by the claimant cannot support payment on their own, though they may help explain other documentation.

• Submit records showing that the business was closed during the closure period and that you were scheduled to work.
• The Claim Form includes an Employee Verification, and the notice generally requires a completed Employer Verification Form from the employer.
• If the employer does not complete that form after reasonable efforts, the notice permits alternatives. These may include an employer closure notice, news or government notices confirming the closure, work schedules or cancellation messages, prior pay records showing usual hours and pay rate, or a sworn declaration backed by other documentation.

• Only one Property Damage Claim is allowed for each household.
• A property owner and a tenant may each submit a claim for leased property only when their claims cover different qualifying property losses and both otherwise qualify as owners or residents.
• The claimed expense must have been incurred by March 17, 2025, and must not already have been reimbursed by insurance or another source.

• The residual payment is available only to people who do not submit a Business Loss, Property Damage, or Employee Lost Wages Claim. Workers who qualify only because they worked in the area cannot receive a residual payment.
• Only one residual claim is allowed per household or business.
• A valid residual claimant located in the Adjacent Area or Voluntary Evacuation Zone receives a 1.5 weighting factor; other valid residual claimants receive a 1.0 factor.
• If a documented-loss claim is denied only because there was not enough documentation, the claimant automatically qualifies for a residual distribution without another form or more documents, unless they are an Employee Only Class Member.

• Mail an individual written request for exclusion to the Settlement Administrator. It must be postmarked by November 3, 2026.
• Include a statement that you want to be excluded, along with your name, address, telephone number, email address, and handwritten signature.
• Opting out means you cannot receive settlement benefits, but you keep the right to bring your own case about the claims resolved by this settlement.

• The court is scheduled to consider final approval on May 25, 2027, at 10:00 a.m. ET.
• Payments are not scheduled for a fixed date. They can be distributed only if the court grants final approval and any appeals are resolved.
• An appeal may delay payment, and the notice does not say how long that process will take.