4 FACTORS THAT COULD DETERMINE THE AMOUNT How Much Can I Get for My Product Liability Settlement?
THE OUTCOMES OF PREVIOUS, SIMILAR CASES
While it would be simple and straightforward to just send the court a bill for your injuries, loss of income, and overall decreased quality of life after an injury caused by a defective product, settlements don’t always work that way. Instead, your settlement amount may depend on some or all of the following four factors.
If your product liability case is one of several similar cases happening across the country, then you might use the settlements in those cases as a means to roughly gauge the settlement amount for your case. That could be a good or bad thing. If similar cases have been settled for puny amounts, then you might also get next to nothing. However, if other settlements for plaintiffs in similar cases have been large, yours might also be large.
YOUR LIKELIHOOD OF WINNING THE TRIAL
The more plentiful the evidence in your favor and the more experienced your legal team, the better chance you have of winning a product liability case. That likelihood will also influence your ability to negotiate your settlement amount. The stronger the case, the greater your chances of negotiating a satisfactory settlement.
THE TIMING OF YOUR CASE AND THE DEFENDANT’S REMAINING FUNDS
If you’re joining thousands, or tens of thousands, of other plaintiffs in a legal battle against a major corporation, as their settlement funds run out, you may not receive as large a settlement as the first few plaintiffs who won their case. Similarly, if the organization is going out of business, then they might not have the available funds to pay a settlement.
THE EXTENT OF YOUR DAMAGES
When a jury reviews your case, they’ll take into account a multitude of factors when determining the proper settlement amount for you. Those factors include the cost of your medical bills, the income you lost, your pain and suffering, emotional distress, and any loss of companionship. The extent of all these factors will help the court determine your settlement.
At Shuttlesworth Law Firm, we can help you navigate all of these factors and more throughout your case. Call us today at (205) 322-1411.
FACTOID STRANGE
A (Literal) Beacon THE STATUE OF LIBERTY’S EARLY FUNCTION
Many see the Statue of Liberty as a beacon of freedom and prosperity. Many immigrants making the final leg of their journey to Ellis Island most certainly would have thought so. But did you know the Statue of Liberty used to be a literal beacon? For 15 years, the Statue of Liberty actually operated as a lighthouse. In 1886, when the Statue of Liberty was first built, ships would have been able to see the statue’s torch 24 miles away. However, the Lighthouse Board constantly complained about the operational costs of running the Statue of Liberty as a lighthouse, and finally in 1901, it ceased to be a navigational aid.
TAKE A BREAK
However, the monument remains a spectacular sight for all who make the journey to see her.
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