It’s no secret that corporate giants are paying large sums in settlements and court fees recently.
Johnson & Johnson, for instance, is being sued for faulty medical devices used in hip replacements, as well as facing trial for allegations against their baby powder, which individuals claimed caused cancer. The company was recently ordered to pay $4.14 billion in punitive damages and $550 million in compensatory damages.
Monsanto Co., which is based in Germany, is being sued for $2 billion by a couple who claim they also received cancer after using Monsanto’s weed-killing product, Roundup.
Takeda Pharmaceutical Co. and Eli Lilly were originally ordered to pay $9 billion in 2014 for damages caused by their Actos diabetes drug.
These are just a few examples of the most recent large sums juries ordered these companies to pay, but there was a change in plans.
According to Fox Business: “…of the 25 largest U.S. jury awards, 23 were reversed, drastically cut or against defendants with few or no assets who couldn’t pay.”
The $9 billion Takeda and Eli were ordered to pay was reduced to $36.8 million.
General Motors was originally to pay $4.9 billion in 1999, but this was reduced to $1.9 billion.
J&J is still pending in its most recent case.