Rodney G. King will receive most of his nearly $3.9 million settlement from the city of Los Angeles for his 1991 beating by police in one direct payment, rather than in a previously negotiated settlement that would have placed the funds directly into an annuity, the City Council agreed Wednesday.
King's attorney, Steven Lerman, said King prefers direct payment so that he can invest the money on his own. Most of the money will still go into annuities, but ones that will provide more flexibility and liquidity, Lerman said.
"There is no trip around the world planned," Lerman said. "Mr. King has to pay a quarter-million dollars in medical bills. The rest he is just investing to plan for his future and his family's future."
Lerman declined to say how much he and other lawyers who represented King will receive. But he said that lawyers fees in such cases are typically one-third of a settlement amount, and that King's fees will be "fairly typical."
The council's action withheld nearly $253,000 of King's settlement until the courts decide whether King must reimburse the Los Angeles Unified School District for its legal expenses.
King sued the district, charging that its officers at the scene did nothing to stop his beating. But the school district was dismissed as a defendant and U.S. District Judge John G. Davies subsequently awarded attorneys fees to the district. Lerman has appealed.