For the settlement to take effect, how many plaintiffs would have to agree to drop their lawsuit?
Question:
For the settlement to take effect, how many plaintiffs would have to agree to drop their lawsuit? If 85% of the plaintiffs agree to accept the settlement and the remaining go to trial, what is Merck’s total payout if these cases are won at the rate at which plaintiffs won the first 17 cases?
Transcribed Image Text:
Deal or No Deal-For Real Merck & Co., maker of the painkiller Vioxx, announced that it would pay $4.85 billion to settle 26,600 lawsuits filed by 47,000 plaintiffs, who claimed that the drug had harmed users. For the settlement to take effect, 85 percent of the plaintiffs would have to agree to drop their cases. The company claimed that it had won 12 of its first 17 cases .... The jury award in its first lost case was $253 million.... Vioxx was pulled from the market three years ago.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 50% (2 reviews)
The number who wou...View the full answer
Answered By
Ashington Waweru
I am a lecturer, research writer and also a qualified financial analyst and accountant. I am qualified and articulate in many disciplines including English, Accounting, Finance, Quantitative spreadsheet analysis, Economics, and Statistics. I am an expert with sixteen years of experience in online industry-related work. I have a master's in business administration and a bachelor’s degree in education, accounting, and economics options.
I am a writer and proofreading expert with sixteen years of experience in online writing, proofreading, and text editing. I have vast knowledge and experience in writing techniques and styles such as APA, ASA, MLA, Chicago, Turabian, IEEE, and many others.
I am also an online blogger and research writer with sixteen years of writing and proofreading articles and reports. I have written many scripts and articles for blogs, and I also specialize in search engine
I have sixteen years of experience in Excel data entry, Excel data analysis, R-studio quantitative analysis, SPSS quantitative analysis, research writing, and proofreading articles and reports. I will deliver the highest quality online and offline Excel, R, SPSS, and other spreadsheet solutions within your operational deadlines. I have also compiled many original Excel quantitative and text spreadsheets which solve client’s problems in my research writing career.
I have extensive enterprise resource planning accounting, financial modeling, financial reporting, and company analysis: customer relationship management, enterprise resource planning, financial accounting projects, and corporate finance.
I am articulate in psychology, engineering, nursing, counseling, project management, accounting, finance, quantitative spreadsheet analysis, statistical and economic analysis, among many other industry fields and academic disciplines. I work to solve problems and provide accurate and credible solutions and research reports in all industries in the global economy.
I have taught and conducted masters and Ph.D. thesis research for specialists in Quantitative finance, Financial Accounting, Actuarial science, Macroeconomics, Microeconomics, Risk Management, Managerial Economics, Engineering Economics, Financial economics, Taxation and many other disciplines including water engineering, psychology, e-commerce, mechanical engineering, leadership and many others.
I have developed many courses on online websites like Teachable and Thinkific. I also developed an accounting reporting automation software project for Utafiti sacco located at ILRI Uthiru Kenya when I was working there in year 2001.
I am a mature, self-motivated worker who delivers high-quality, on-time reports which solve client’s problems accurately.
I have written many academic and professional industry research papers and tutored many clients from college to university undergraduate, master's and Ph.D. students, and corporate professionals. I anticipate your hiring me.
I know I will deliver the highest quality work you will find anywhere to award me your project work. Please note that I am looking for a long-term work relationship with you. I look forward to you delivering the best service to you.
3.00+
2+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Sciences questions
-
The Crazy Eddie fraud may appear smaller and gentler than the massive billion-dollar frauds exposed in recent times, such as Bernie Madoffs Ponzi scheme, frauds in the subprime mortgage market, the...
-
The Rome Statute only recognizes personal jurisdiction over natural persons who are over the age of 18. There is no such thing as corporate criminal liability under the Rome Statute. In other words,...
-
The U.S. Court of Appeals for the Fourth Circuit affirmed the lower court ruling in the case Public Employees Retirement Association of Colorado; Generic Trading of Philadelphia, LLC v. Deloitte...
-
The focal length of a thin biconvex lens is 20 cm. When an object is moved from a distance of 25 cm in m25 front of it to 50 cm, the magnification of its image changes from ms to m50. The ratio is m50
-
Temperature in a slab with heat production, the slab of thermal conductivity k in Example 12.1-2 is initially at a temperature T 0 . For time t > 0 there is a uniform volume production of heat S 0...
-
The Treasury Management Association of Canada is Canada's only association of treasury and finance professionals. They list treasury management career opportunities on their site at www...
-
A partially completed charge sales systems flowchart. The flowchart depicts the charge sales activities of the Bottom Manufacturing Corporation. A customer's purchase order is received and a six-part...
-
Gourmet Coffee (GC) is a specialty coffee shop that sells roasted coffee beans. It buys green beans, roasts them in its shop, and then sells them to the consumer. GC estimates that it sells about...
-
Given a vector: vector vectorArray = {1,2,3,4,5}; Below is how we traverse through it: for (int i = 0; i < vectorArray .size(); i++) { } //do somthine with vectorArray[i] Apply the same idea, if we...
-
Assuming the number of lawsuits for the settlement described in the news clip in Problem 59 is directly proportional to the number of plaintiffs, determine how Mercks total payout is distributed...
-
An advertisement for a steel-belted radial tire states that this tire delivers 15% better gas mileage. If the present gas mileage is 25.5 mpg, what mileage would you expect if you purchased these...
-
The fund-basis financial statements of Cherokee Library District (a special-purpose government engaged only in governmental activities) have been completed for the year 2020 and appear in the second...
-
If you borrow money from the bank, is your liability the day you take out the loan equal to the amount you borrowed or the amount you are obligated to repay?
-
If you are buying fire insurance, what valuation method should you use?
-
There is no "correct" value for ratios, so an organization generally will compare ratios for a specific year to what?
-
What are some of the benefits or uses of ratio analysis?
-
Why is a Statement of Cash Flows needed, if we can see the change in cash by looking at the amount of cash on the balance sheet at the beginning and end of the year?
-
Internet access to the World Wide Web has provided a wealth of information accessible with our personal computers. Many chapters in this text contain Real World Cases that require you to access the...
-
Explain five different cases of income exempt from tax with clear examples.
-
Why does the hydrogen spectrum contain many lines, even though the hydrogen atom has only a single electron?
-
The photon and the neutrino are both uncharged. What are the differences between them?
-
If a red star and a white star radiate energy at the same rate, can they be the same size? If not, which must be the larger? Why?
-
Wong Inc. has a capacity of 28,000 hours to manufacture and sell products A and B. The following information is given: product A product B Manufacturing time (hour) 3 2 Market demand (units) 6000...
-
This unit discussed various costing methods, such as job order costing, process costing, and activity based costing, that a manufacturing company can use to ensure that its financial information is...
-
(b) Write a query using SQL to display "a list of the actual appointments that have charged amount greater than $200".
Study smarter with the SolutionInn App