Judd Legum

@JuddLegum ↗

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Last Checked Sept. 20, 2022

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Tue Sep 06 12:55:46 +0000 2022

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Judd Legum @JuddLegum

11. In 2020, Jackson reached a settlement with @Siemens. Under the settlement agreement, Siemens paid Jackson $90 million, the original upfront cost of the contract. But $90 million was not nearly enough to make Jackson whole. https://t.co/vFmWZXZPqt — PolitiTweet.org

Posted Sept. 6, 2022

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Judd Legum @JuddLegum

10. In 2019, Jackson filed a lawsuit against @Siemens seeking $450 million in damages. The suit sought to recover the $200 million Jackson paid to finance the project, $175 million in lost revenue, and $75 million to repair the water meter system. — PolitiTweet.org

Posted Sept. 6, 2022

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Judd Legum @JuddLegum

12. One-third of the settlement ($30 million) went to the lawyers the city hired to bring the case. Another $36.7 million was needed for a reserve fund to bring it into compliance with its bond issue. $14.5 million was used to partially cover billing shortfalls. — PolitiTweet.org

Posted Sept. 6, 2022