The plaintiffs who sued La Conchita Ranch Co. because of the 2005 landslide that killed 10 La Conchita residents agreed to a settlement that will give them the ranch, its equipment and $5 million, attorneys said Sept. 9.
 

The settlement filed in Ventura County Superior Court was announced by the plaintiffs’ attorney Anthony Murray with the law firm of Loeb and Loeb in Los Angeles.

A jury found Aug. 19 that the company was negligent in connection with the Jan. 10, 2005, landslide that killed 10 people and destroyed homes in the coastal community north of Ventura. The damages phase of the trial had been expected to start later this month.

The plaintiffs said the ranch company had not built an adequate drainage system. Heavy rain fell in the days preceding the landslide.

By Dec. 1, the ranch will be sold by a court-appointed receiver. Plaintiffs’ attorneys said the money and assets, minus the legal fees, will be divided among their 36 clients.