This is a classic case of how this country and our badly flawed and out dated legal system continues to pad the wallets of plaintiff attorneys.
Let’s assume for this discussion that they succeed in getting 100% of the amount demanded, 285,000,000. Once suit is filed, the money grubbing attorneys will get between 40-50% of that amount. Using the midpoint of 45% equals net profit to the attorneys of 128,000,000. After deducting for ancillary trial expenses, the 5,600 plaintiffs will be lucky to get 50% of what’s left. That averages a whopping 28,000 per claimant.
Let’s hear it for the plaintiff generated contingency fee arrangement. If this formula isn’t unjust enrichment I don’t know what is. How can a handful of attorneys make 128,000,000 on this case. They should earn time billed instead of acting like commission salesmen. Change their compensation and you change the costs of insurance.
It appears from the article that the Pf’s will be eligible for COMPENSATORY damages. It’s my understanding that PUNITIVE damages are supposed to be a punishment (kinda like a fine, ya think?) so why don’t they pay the punitive damages to the FDA or DEA? Might help with their budget crunches.
That’s a great suggestion ….. pay punitive’s to an organization other than the pltf. so thing might improve in the long term. Too bad the greed bastards of the plaintiff bar would never let that happen. I can hear their squeeling now.
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This is a classic case of how this country and our badly flawed and out dated legal system continues to pad the wallets of plaintiff attorneys.
Let’s assume for this discussion that they succeed in getting 100% of the amount demanded, 285,000,000. Once suit is filed, the money grubbing attorneys will get between 40-50% of that amount. Using the midpoint of 45% equals net profit to the attorneys of 128,000,000. After deducting for ancillary trial expenses, the 5,600 plaintiffs will be lucky to get 50% of what’s left. That averages a whopping 28,000 per claimant.
Let’s hear it for the plaintiff generated contingency fee arrangement. If this formula isn’t unjust enrichment I don’t know what is. How can a handful of attorneys make 128,000,000 on this case. They should earn time billed instead of acting like commission salesmen. Change their compensation and you change the costs of insurance.
It appears from the article that the Pf’s will be eligible for COMPENSATORY damages. It’s my understanding that PUNITIVE damages are supposed to be a punishment (kinda like a fine, ya think?) so why don’t they pay the punitive damages to the FDA or DEA? Might help with their budget crunches.
That’s a great suggestion ….. pay punitive’s to an organization other than the pltf. so thing might improve in the long term. Too bad the greed bastards of the plaintiff bar would never let that happen. I can hear their squeeling now.