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What a crock of shit. Johnson & Johnson netted $17 billion USD in 2022, so it's not like they can't afford to pay any settlements. They just don't want to. In the last 5 years they netted 84 billion dollars, and that is all profit. Yeah, fuck you, J&J
I'm against corporal punishment, but I think there are white collar crimes that should carry the death penalty.
The entire sackler family
I mean at the very least if corporations are people then they should be eligible for the death penalty too
While it's not all the way there, the "depraved heart" rule does exist.
It allows the court to consider extreme indifference to the safety of others as being so depraved that it can be considered intent to kill - elevating wrongful death to 2nd degree homicide.
An example would be a drug or auto manufacturer executive choosing not to issue a safety recall for financial reasons. The idea is there's clear knowledge that great harm is likely from their inaction, and they're actively choosing to inflict that harm.
I'd vote for the entire Wall St bunch who brought down the world economy in '08 (and got off scott free).
Isn't that the point of limited liability corporations? To move profits into private pockets while keeping liabilities in the corporation?
That's not what they did tho. They did this instead ... and lower courts said no.
source here
Look up MNK/Mallinkrodt aka SpecGX. Just filed for bankruptcy right after emerging from bankruptcy in order to shed the original agreement of future products in lieu of fines or some such shit. Opioid manufacturer double bankruptcy.
The bankruptcy is a plan in place with counsel representing claimants so they can free up cash reserves and pay them.
They don't have enough cash on hand, so they bankrupt part of the company and sell.
Everyone should read the article.
Considering that the settlements could be upwards of 750 billion, maybe they're just pre-declaring.