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The Five Biggest Court Settlements in History

THE FIVEBIGGEST COURT SETTLEMENTS INHISTORY .AND WHY THEY MATTER This settlement has to do with the disastrous oil spill along the Gulf Coast caused by an explosion at a British Petroleum well. The trust fund is set to help clean up the oil, pay fines, and more. BP has put the total for the entire oil spill including fines to be at $42 billion. $20BN AGAINST BP As will come again on this list, BoA has been involved in many sticky situations as of late. This settlement was related to the housing bubble and mortgage backed securities. A group of investors sued over securities originally valued at $105 billion but settled for $8.5 billion, and this was the largest such settlement by a financial services firm to date. $8.5BN AGAINSTBANK OF AMERICA $7BN $410M $210M AGAINST JEFFREY PICOWER AGAINSTBANK OF AMERICA AGAINST UPPER BIG BRANCHMINE Never heard of him? He was one of the initial investors in the horrific Bernie Madoff case. He invested in the Madoff fund and withdrew $7 billion before it went under. He was unaware of the fraud and ultimately returned the entire $7 billion to the victims of Madoff's Ponzi scheme. Think your bank charges too much? So did these Bank of America customers who had debit card overdrafts in the past ten years. BoA charged $35 to each customer each time they had an overdraft, with an average of $300 for each customer. Even though it is one of the largest settlements ever in a consumer case, customers are expected to only receive a fraction of their overdraft fees back. We all heard about the deadly coalmine accident where 29 men died in 2010. The settlement is against the new owners of the mine and includes $46.5 miners' families, $128 million to safety upgrades, and $35 million in million to the penalties. MAID ENTS SERIOUS CRIME SOLICITORS

The Five Biggest Court Settlements in History

shared by shuxley on Apr 23
Discover which companies were forced into making the biggest payouts.


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