scales of justice

Biggest Losers – Corporate Payouts – with actual corporate documents

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scales of justiceFrom Big Tobacco to Big Pharma, class action lawsuits enable the little guy (or thousands of little guys) to get a piece of justice. Getting corporate documents has never been easier with RealDealDocs. Yet,  getting a concise list of these cases wherein corporations lost in civil litigation can be difficult, according to attorney Andy Gillin.

“This is partly because class action settlement amounts are a moving target until payments are made, long after the parties strike a deal, ” writes Gillin, adding,  “to make matters even more complicated, defendants sometimes reach separate settlements during litigation. Even if all parties agree to settle, the court must review and approve distribution plans, and the court of appeals can review them too.”

“Thus, while it has its origins in equity, a class action is now a useful procedural litigation device that permits a small number of plaintiffs to represent and legally bind an entire class through a single lawsuit.” Legal Information Institute

A sampling of big wins for plaintiffs includes: 

  • Vitaris (formerly Mylan) – Amount: $264 million
  • R.J. Reynolds Tobacco Co. – Amount: $23.6 billion
  • Bayer (Monsanto) – Amount: $10.9 billion
  • Enron – Amount: $7.2 billion

While the class actions against Big Tobacco in the 1990s were trailblazers, class actions against the makers of opioids run a close second in terms of the sizable payouts via the US courts. In 2019, Purdue Pharma (owned by the Sackler family) agreed to pay Oklahoma $270 million, setting the stage not only for individuals party to a class action to benefit but for counties and cities to receive compensation.

Megan VerHelst writes, “In July (2021), three U.S. drug distributors — AmerisourceBergen, Cardinal Health and McKesson — and drugmaker Johnson & Johnson agreed to pay a combined $26 billion to resolve thousands of state and local government lawsuits,” adding, “millions of people are likely to benefit from the forthcoming opioid settlement. At least 45 states have signed on or intend to sign on to the settlement, and at least 4,012 counties and cities will also receive compensation.”

“Johnson & Johnson has been fending off nearly 20,000 lawsuits, some with success, others not so much. A 2018 jury awarded 22 plaintiffs $4.69 billion in damages. Johnson & Johnson has been accused of knowing about asbestos exposure through this particular product through decades of testing from 1971 to 2000 – yet failing to warn consumers.” SmartRules.com

Whatever your industry, RealDealDocs saves hours of drafting time and incorporates corporate business documents written by leading lawyers, leaders, and innovators – providing you with insight and a competitive edge. And we feature the latest press releases for the companies and industries you follow. Visit RealDealDocs and view the first page of each document at no charge.

Here are some corporate documents in the RealDealDocs database from corporations that lost class action lawsuits:

Viatris Inc S-4 for VIATRIS INC

Amendment No. 7 To The Brown & Williamson Tobacco Corporation Health Care Plan For Salaried Employees (A Benefit Under The Brown & Williamson Tobacco Corporation Welfare & Fringe Benefit Plan And The Reynolds American Omnibus Welfare Benefits Plan)

Monsanto Shareowners Approve Merger With Bayer for MONSANTO CO /NEW/, ST LOUIS-(BUSINESS WIRE)-Monsanto Company

Restated Certificate Of Incorporation Of Enron Oil & Gas Company for EOG RESOURCES INC, ENRON OIL & GAS COMPANY

Sources

31 of the Biggest Lawsuit Settlements Against Companies

THE LARGEST CLASS ACTION LAWSUITS & SETTLEMENTS

Legal Information Institute

The Largest Class-Action Legal Settlements In U.S. History

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