Covia Investors’ $6 Million Deal Over Fracking Sand Complete

Covia Holdings Corp. investors’ agreement to settle their claims against the bankrupt fracking sand producer’s former CEO for $6 million received final approval from a federal court Thursday.

None of the roughly 56,000 potential class members who received notice of the settlement objected to it or opted out, Judge J. Philip Calabrese said for the US District Court for the Northern District of Ohio. “This result, uncommon in the Court’s experience, lends strong support to approval of the class as fair, adequate, and reasonable,” he said.

The case arose from a scandal on the downslope of the fracking boom in ...