A proposed settlement in federal bankruptcy court would return more than $ 7,000 each to a few hundred people who arrived on a private island in the Bahamas in the spring of 2017 to find no luxury accommodation or gourmet food promised to them. when they signed up for “the cultural experience of the decade”.
If approved, the $ 2 million settlement in Manhattan federal bankruptcy court would at least partially reimburse about 277 cardholders for their troubles.
A Los Angeles-based law firm, Geragos & Geragos, originally filed a $ 100 million class action lawsuit in 2018.
The company representing the plaintiffs will distribute the money to their clients once the Fyre Festival estate lowers them the settlement check under the proposed agreement.
CNN contacted the law firm but did not hear back.
A federal judge will consider and possibly approve the proposed settlement at a hearing scheduled for May 13.
Prosecutors said he cheated investors and ticket sellers for about $ 26 million.
Once promoted by celebrity models and millennial Instagram stars, details from the festival inspired two hit documentaries on Netflix and Hulu.