To settle or not to settle $1Billion dollar lawsuit
JNJ is still fighting the $1Billion lawsuit in Arkansas. The settlement is racking up some serious interest while on appeal. At nearly 10% which is customary, it is equivalent to nearly $2 million per week. Judging by the reluctance to settle early on, JNJ is paying for their bad legal council. They obviously believe they have some smidgeon of hope. At $2 million a week, they better hire another law firm. They should settle it, and get on with life. That interest is going to hurt and the money is going to fund medicaid, which recycles right back to them. No Arkansas judge is going to turn down health funds for their family and state.
I think they are more worried about the precedent it would set and therefore future liability. Its just another example of the out of control legal system in this country. Common sense should rule but seems to find no place in lawsuits.