VIP Law Zone

8 most expensive lawsuits the grabbed the nation

Lawsuits have become much more popular than they’ve been in decades, this is mostly because the process has been made some much easier. Because of the growing popularity of the internet and the availability of various platforms for consumers to offer feedback and criticism companies are more likely to avoid the negative press by settling differences out of court. A popular type of lawsuit that is seen all around the world and was first practiced was the suing of major corporations.No win No Fee specialists at The Claims partnership have put their heads together and came up with some of the more popular law suits we’ve seen over the last 50 or so years.”

#8 Princeton University – $7 million

In the 1960s, a wealthy family made a massive contribution to Princeton university, but the money was not used for the purpose of which it was donated so the family too the university to court and the university was made to pay the family $7 million and change the way the money was being used.

#7 Bank of America VS Julie Calibuso $39 million

In 2010, Bank of America was at it again. A group of female advisors led by Julia Calibuso filed a systematic discrimination lawsuit, the suit was based on the fact that the policies and practices in the company were designed to pass over women for business progression and advancements. A settlement for $39 million was finally reached in December 2010.

#6 Bank of America VS George McReynolds $160 million

In 2005, an employee of one of Bank of America’s subsidiary companies sued the company and its parent company for discrimination against its African American employees. The suit stated that the company doesn’t offer its African American employees the same opportunities that they offer the white ones as well as not offering them equal pay for the same jobs. The Bank of America finally settled out of court for $160 million

#5 Countrywide Financial Corporation $500 million

2008 was an eventful year for most businesses, but none as eventful as Countrywide Financial Corporation. In 2008 a number of complaints were made against them about irregularities with their loan scheme. After a very public investigation, the company finally agreed to pay almost half a billion in fines.

#4 Rupert Murdoch VS Anna Maria $2 billion

Rupert Murdoch got rich through his global media holding company News Corp and can be considered one of the biggest names in the media world. No stranger to the courtroom, Mr Murdoch has been sued more times than we care to explore, but the one that rocked his bank account the hardest was against his ex with Anna Maria. The couple finally reached a settlement in 1999 with Rupert Murdoch having to fork over nearly $2 billion worth of assets to her making it one of the biggest divorce settlements we’ve seen to date.

#3 Nokia VS Apple $2 billion

Nearly 10 years ago Apple got into a patent fight with then mobile phone giants Nokia. To years after the initial suit was presented the two companies reached a compromise, but then 6 years later Nokia filed another suit, which meant apple had to pay over $2 billion to Nokia.

#2 Tyco International VS Dennis Kozlowski $3 billion

In 2002 Tyco International accused some of its top-ranking officials, including Dennis Kozlowski of stealing millions of dollars from the company. A full-fledged investigation was conducted, and it resulted in the imprisonment of two of the high ranking officials and a legal fine of $3 million.

#1 JP Morgan VS US Government $13 billion

In 2013, JP Morgan finally settled its lawsuit with the government over their part in the financial crises of 2008.