Fatal Plane Crash Lawsuit Results in $15M Settlement

|
AboutLawsuits

Add Your Comments

A wrongful death lawsuit against Morgan Stanley has resulted in a $15 million settlement for the family of one of the victims of a 2006 plane crash that killed all four people onboard.

An Illinois judge in Cook County approved the settlement last week between the family of Michael Waugh, 37, and Morgan Stanley. Waugh’s family claimed that Morgan Stanley and the estate of the pilot, Mark Turek, 59, were responsible for the plane crash.

The complaint alleged Morgan Stanley was negligent for allowing Turek, an amateur pilot who was an employee of the firm, to fly a personal plane to conduct company business. At the time of the accident, Morgan Stanley was the only financial firm that allowed employees to conduct business trips and fly around employees or clients in personal planes, according to Waugh’s family.

Do You Know about…

Spinal Cord Stimulator lawsuits

Spinal cord stimulator lawsuits are being investigated for individuals who suffered unnecessary shocks, burns or other problems, often resulting in the need for additional surgery to remove the SCS.

Learn More
SEE IF YOU QUALIFY FOR COMPENSATION
Spinal-Cord-Stimulation-Lawsuit
Spinal-Cord-Stimulation-Lawsuit

Do You Know About…

Spinal Cord Stimulator lawsuits

Spinal cord stimulator lawsuits are being investigated for individuals who suffered unnecessary shocks, burns or other problems, often resulting in the need for additional surgery to remove the SCS.

Learn More
SEE IF YOU QUALIFY FOR COMPENSATION

The plane accident occurred on Jan. 30, 2006, when Turek’s 1974 Cessna 421B crashed into a storage yard while on approach to Paulwaukee Municipal Airport. The National Transportation Safety Board determined that Turek reduced the speed of the plane too much on approach, causing the plane to stall and crash.

Turek was a senior vice president with Morgan Stanley, and Waugh was general manager and chief operating partner of Joe’s Seafood, Prime Steak & Stone Crab in Chicago. The two other passengers killed in the plane crash were Kenneth Knudson, the 61-year old founder of Sybaris, and Scott Garland, 40, a financial advisor with Morgan Stanley.

The settlement will award $6 million to Waugh’s widow, Lisa, and the remainder will be divided among their three sons.

Tags: Accident, Chicago, Illinois, Plane Accident, Plane Crash, Wrongful Death
Image Credit: |

More Lawsuit Stories

0 Comments

This field is for validation purposes and should be left unchanged.

Share Your Comments

This field is hidden when viewing the form
I authorize the above comments be posted on this page
Post Comment
Weekly Digest Opt-In

Want your comments reviewed by a lawyer?

To have an attorney review your comments and contact you about a potential case, provide your contact information below. This will not be published.

NOTE: Providing information for review by an attorney does not form an attorney-client relationship.

MORE TOP STORIES

FanDuel Addiction Lawsuit Alleges Targeted Advertising Caused Substantial Gambling Losses
A FanDuel addiction lawsuit claims a Pennsylvania man wagered massive amounts of money after being subjected to a tailored promotional campaign designed to exploit his gambling habits.
Boston Scientific Stimulator Lawsuit Alleges Spine Implant Caused Nerve Damage, Shocks
A spinal cord stimulator lawsuit from a Kentucky man claims his Boston Scientific device was defectively designed, leaving him with permanent nerve damage and wire fragments fused into his bones.
Covidien Mesh Lawyers To Meet With MDL Judge This Week, Following Landmark Verdict
A federal judge has called for a meeting between attorneys representing plaintiffs and defendants in Covidien mesh lawsuits following an $88 million verdict against the manufacturers.