New York CNN  —  Norfolk Southern has reached a $600 million settlement that, if approved by a court, will resolve all class-action lawsuits within 20 miles of its 2023 East Palestine, Ohio, derailment that spilled more than a million pounds of hazardous chemicals into the soil, water and air. The rail company said the settlement is intended to offset costs related to the spill that sent a plume of toxic smoke into the air and displaced many residents and businesses. “Individuals and businesses will be able to use compensation from the settlement in any manner they see fit to address potential adverse impacts from the derailment,” the company said in a statement. “This could include healthcare needs and medical monitoring, property restoration and diminution, and compensation for any net business loss.” The settlement also allows residents within 10 miles of the derailment to receive additional compensation In a cour This is a developing story and will be updated.