The Personal Injury Lawyer's Work on the Japanese Computer Manufacturer
By: clydebalsh | Posted: 11th August 2010
A lawyer from Texas came up with a unique and well thought out plan to make money from the laptop computer industry. Create a lawsuit against a company for a nonexistent problem. This is a serious matter, especially if you belong to market for laptop computers. Other companies have been sued, and price increases may happen in the near future. To get a closer look on personal injury solicitor visit this site.
A lawyer who helped represent Texas in its lawsuit against a tobacco company, managed to extract a $2 billion settlement from a Japanese appliance maker after he filed a $9 billion lawsuit on behalf of 5 million consumers. Since the company could lose more if they lose in court, they decided on settling the suit late last month.
He and some other lawyers would receive around $147 million in contingency fees. Millions of owners were also given cash rebates and discount coupons by the computer manufacturer. Two men who owned laptops made by the company were the plaintiffs of this lawsuit.
A flaw in the laptops design that could create loss or corruption of data was the claim of the two men who received $25,000 from the settlement. Any damaging effects that could supposedly be caused by the flaw did not even happen to any of these two men. As a person looking for personal injury lawyer you should visit that site.
The Japanese corporation which makes the chip, said it never has received a single consumer complaint about the alleged defect. No complaints at all were made by the computer maker's customers until last March when the lawsuit was filed. The laboratory tests run by the company did not reveal any data loss that may have come about from the flaw.
Losing to the lawsuit in the trial court would have meant a loss much greater than just $9 billion for the Japanese company. It's quite similar to tossing bloody meat into the Gulf of Mexico, said the legal observers who talked about the capitulation of the company. The sharks had already made their way toward the target even before the sound of the splash disappeared. Personal injury lawyers targeted another five laptop computer manufacturers who used the NEC floppy control chip.
Layoffs are now in the minds of those in these businesses who have been affected by lawsuits. The worst does not end there it seems. The billion dollar settlements may be the reason for soaring personal computer prices, said a New York financial analyst. For almost twenty years, the United States has been experiencing prosperity partly because of falling computer prices which have kept inflation low, say economists.
With a few hundred dollars in your pockets, you can already purchase good conditioned computers that do way better than the costly ones 20 years ago. Computer prices would indeed go higher if lawsuits are used to bully other laptop manufacturers. This is good news for those with the money to spend, but bad news for those who cannot afford to do it. This article is free for republishing
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Tags: discount coupons, cash rebates, personal injury lawyer, gulf of mexico, price increases, laboratory tests, personal injury solicitor, japanese company, laptop computers