Product Liability Lawsuit Verdicts Up in 2009: Report
Last year, there was a substantial increase in the size of the largest product liability jury awards against big businesses, including two major punitive damage awards in hormone replacement therapy lawsuits against Pfizer’s Prempro, which seem to reflect an American public that is fed up with corporate abuses.
>>INFORMATION: Product Liability Lawsuits
According to an analysis by Bloomberg News, there was a 52 percent increase in the total value of the top five product defect lawsuit verdicts of 2009, when compared to the previous year. The verdicts seem to indicate that jurors are more inclined to take the side of their fellow citizens amidst the pain of the economic recession, the blame for which many people lay at the feet of Wall Street and big business.
Among the largest jury awards in product liability lawsuits last year that were identified by Bloomberg, were two losses by Pfizer over its hormone replacement therapy drug, Prempro. Pfizer was hit with a combined punitive damage award of $103 million in two Prempro lawsuits, in which women claimed that the drug maker intentionally hid the risk of breast cancer, putting profits before the safety of consumers.
The lawsuits may be just the start of Pfizer’s Prempro woes, with more than 9,000 other hormone replacement therapy lawsuits pending against Pfizer’s Wyeth subsidiary. All of the lawsuits involve allegations that women developed breast cancer as a result of the company’s failure to adequately warn consumers and the medical community about the risks associated with hormone replacement therapy.
In another major lawsuit highlighted in the Bloomberg analysis, jurors hit Altria, a Virginia tobacco company that owns Phillip Morris, with a $300 million verdict in a lawsuit by a former smoker who developed cancer. The lawsuit included $244 million in punitive damages; the largest punitive damages award in 2009.
Overall, five of the 50 largest court verdicts in 2009 nationwide concerned allegedly defective products, compared to only one such case which made the top 50 in 2008.
The verdicts reflect a souring mood of the public toward big business, and hopefully these verdicts are being looked at by corporate executives. Consumers are angry with corporate America, and these large verdicts are likely to continue if companies do not start recognizing that they can not place consumer safety at risk to generate additional revenue for their bottom line.
PRODUCT LIABILITY LAWYERS
The product liability lawyers at Saiontz & Kirk, P.A. investigate potential claims for severe injuries caused by dangerous and defective products throughout the United States. If you, a friend or family member suspect that you may have a claim, request a free consultation and claim evaluation.
