AXA S.A. has agreed to pay $17 million to resolve class-action litigation brought by the descendants of some of the 1.5 million Armenian men and women who died in the Ottoman Empire in 1915 and 1916.[@@]
AXA, Paris, will donate at least $3 million to Armenian charitable groups based in France and $11 million to a fund for heirs of policyholders and beneficiaries of policies issued by AXA subsidiaries that did business in the Turkish Ottoman Empire before 1915, according to the lawyers who are representing the plaintiffs.
The settlement agreement is subject to approval by the U.S. District Court in Los Angeles, where lawyers for the plaintiffs filed their suits.
The class includes Armenians living in the United States and in other countries, the lawyers say.