Pursuant to an order by the U.S. District Court for the District of Columbia, the Cobell settlement payment date is Sept. 15, 2014, according to the Indian Trust Settlement. The case was settled for $3.4 billion.
Cobell v. Salazar is a class-action lawsuit initiated by the beneficiaries of individual Indian trust beneficiaries against the U.S. government, explains the Indian Trust Settlement. Plaintiffs in the class action maintain that the U.S. government violated its trust duties by failing to properly account for the income from Indian accounts and other trust assets. The settlement resolves historical accounting and trust administration claims, establishes a fund to purchase various individual Indian trust lands and establishes an Indian education scholarship fund, notes the Committee On Natural Resources.