A number of states who sued digital cigarette maker Juul are receiving settlement sums upwards of $440 million.
Juul Agrees to $440 Million Settlement in States’ Vaping Case
The Case: Practically three dozen states spent two years investigating the advertising practices of digital cigarette maker Juul. Its high-nicotine vaping merchandise “have lengthy been blamed for sparking a nationwide surge in teen vaping,” in accordance with the Related Press.
Scorecard: Connecticut AG William Tong, talking on behalf of 34 states and territories, introduced that Juul has agreed to pay out $438.5 million over six to 10 years.
Takeaway: The settlement whole, which is but to be finalized, ought to quantity to roughly “25% of Juul’s US gross sales of $1.9 billion final 12 months,” in accordance with the AP. Additionally within the settlement are restrictions on how Juul can market merchandise.
The corporate should nonetheless take care of “9 separate lawsuits from different states,” in addition to “a whole lot of private lawsuits introduced on behalf of youngsters and others who say they grew to become hooked on the corporate’s vaping merchandise,” reported the AP. “Many of the limits imposed by Tuesday’s settlement will not instantly have an effect on Juul, which halted use of events, giveaways and different promotions after coming below scrutiny a number of years in the past.”
Elon Musk’s $258 Billion Dogecoin Racketeering Go well with Expands
The Case: In June 2022, Dogecoin investor Keith Johnson filed a racketeering swimsuit towards Elon Musk, Tesla and SpaceX in Manhattan district court docket, accusing the defendants of “operating a pyramid scheme to help the cryptocurrency Dogecoin,” in accordance with the Related Press.
Johnson initially sought $86 billion in damages.
The case has simply been expanded, “including seven new investor plaintiffs and 6 new defendants together with [Musk’s] tunnel development enterprise Boring Co.,” in accordance with the AP, and plaintiffs at the moment search $258 billion.
Scorecard: The case has simply been filed and has not reached a decision.
Takeaway: Within the new amended grievance, plaintiffs declare that Musk et al “deliberately drove up the value of Dogecoin greater than 36,000% over two years after which let it crash,” reported the AP. The results of the alleged pyramid scheme, claims the swimsuit, was revenue within the tens of billions on the expense of different buyers.
Google’s Fitbit Patent Infringement Case Shut Down
The Case: In 2019, the North American department of Philips introduced a patent infringement swimsuit towards Fitbit in Massachusetts federal court docket. Fitbit was bought by Google later that very same 12 months.
Philips claimed that amongst different features, Fitbit unlawfully used Philips’ sleep and coronary heart charge monitoring applied sciences in its wearable gadgets. The submitting alleged that “for years, Philips has been repeatedly provided to license [patent] rights to Fitbit, however Fitbit has repeatedly refused to just accept Philips’ gives to license.”
Over the course of the following three years, the scope of the case was narrowed from 4 patents to just one for “interactive train monitoring.”
Based on Reuters, “Philips withdrew its allegations as to one of many patents, the court docket discovered one other invalid, and a US Patent Workplace tribunal canceled the third.”
Scorecard: Chief US District Decide Dennis Saylor has declared the remaining patent dispute invalid, successfully shutting down the case.
Takeaway: Decide Saylor dominated that the interactive train monitoring patent declare is summary and can’t be patented. Philips has already appealed the US Patent Workplace determination. Moreover, “Fitbit, together with Garmin Ltd, was defeated a associated Philips patent case on the US Worldwide Commerce Fee final 12 months,” reported Reuters.
Sears Chapter Go well with Settles for $180M
The Case: In 2019, Sears Holding Corp. collectors filed swimsuit “towards former Chairman Edward S. Lampert and different executives,” in US Chapter Court docket in White Plains, NY, in accordance with the Wall Avenue Journal.
Plaintiffs “initially sought $2 billion in damages, saying the shareholders and executives drained the retailer of its most useful property whereas losses piled up within the years main as much as chapter.”
Scorecard: Decide Robert Drain of the Chapter Court docket has authorised a $180 million settlement of the case.
Takeaway: Sears filed for chapter in late 2018. The swimsuit had been “the final excellent subject earlier than Sears’s restructuring plan, which was authorised by the chapter court docket in October 2019, can take impact,” in accordance with the WSJ.
The settlement “paves the way in which for the Sears chapter property to pay important payments, together with funds to suppliers who’ve been ready for his or her cash throughout years of court docket fights.”
The vast majority of the settlement, $125 million, “will come from insurance coverage insurance policies paid out on behalf of Sears’s administrators and officers.” Sears additionally simply reached one other settlement settlement with Pension Profit Warranty Corp. and Cyrus Capital Companions LP, in accordance with the WSJ. &