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Business

Chipotle settles sick customers' claims

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Opening sequence

Business

Chipotle settles sick customers' claims

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COMING UP:Chipotle settles sick customers' claims

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00:00:00
>> After a string of food related problems, Chipotle is paying to move on. Reuters has learned that the fast food chain has agreed to financial settlements of an unknown amount with more than a 100 customers who fell ill after eating at it's restaurants last year. Reuters reporter, Tom Palansik.
00:00:16
>> Analysts say this is a good move for Chipotle, it allows them to move on from these food safety problems without having public trials about the details about how people got sick, and fighting in public about how much people should get paid for their suffering.>> Reports of the illnesses hurt the company's stock price and reputation, but some see this bad year and ensuing settlements as an opportunity.
00:00:42
>> The news of these settlements comes during the same week that billionaire investor Bill Ackman disclosed that he had taken about a 10% stake in Chipotle. And Bill Ackman says that he thinks that Chipotle is undervalued, as it is now. Part of the reason that Chipotle is undervalued in his eyes is because it's been knocked down so much by all these food safety problems.
00:01:05
>> After settling claims from some customers, Chipotle still faces a federal criminal probe into food safety matters, and a civil lawsuit over allegations of misled investors about its food safety controls