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This will continually be appealed until it’s reduced.
by DoesntMatter22 8mo ago
This will continually be appealed until it’s reduced.
- LeoPanthera 8mo agoThis was the appeal.
- DannyBee 8mo agoNo it wasn't, it was a motion to set aside the verdict, made before the trial judge. The appeal will go to the 11th circuit.
- tiahura 8mo agoNo it wasn't. This was the trial judge deciding to not reduce it. $43 million in compensatory damages is unusually high for a wrongful death.
- jeffbee 8mo ago$43 millon does not seem spectacularly high compensation for killing someone at the age of 22.
- dekhn 8mo agoWhen my spouse worked in the area of determining "the value of an individual" (economically, not morally), it was computed as present value lifetime earnings: the cumulative income of the individual, converted back to its current value (using some sort of inflation model). IIRC, the PVLE averaged out to about $1-10M.
- nradov 8mo agoYou shouldn't be down voted. Regardless of the moral or technical issues involved, there are established formulas used to calculate damages in wrongful death civil suits. Your range is generally correct although certain factors can push it higher. (Punitive damages are a separate issue.)
- dekhn 8mo agoI generally don't complain about being downvoted, but it is always puzzling when I post a neutral fact without any judgement.
- jeffbee 8mo agoThere are not "established formulas" or, to the extent that they are, the coefficients and exponents are not determined. The parties always argue about the discount rates and whatnot.
- dekhn 8mo agoSure, no argument there, I was just referring to research like this: https://escholarship.org/uc/item/82d0550k https://escholarship.org/uc/item/82d0550k """Results. At a discount rate of 3 percent, males and females aged 20-24 have the highest PVLE — $1,517,045 and $1,085,188 respectively. Lifetime earnings for men are higher than for women. Higher discount rates yield lower values at all ages."""
- IAmBroom 8mo ago"Seem high" and "is much higher than usual" are two very different things. Your mother's life might be worth $100 billion+ to you, but that doesn't mean her accidental death will make you into Elon's neighbor.
- DannyBee 8mo agoThey claim have a pretrial agreement to reduce it to 3x compensatory damages (which would make the total judgemnet 160 million instead of 243 million). Appealing is expensive because they have to post a bond with 100% collateral, and you pay for it yearly. In this case, probably around 8 million a year. So in general its not worth appealing for 5 years unless they think they will knock off 25-30% of the judgement. Here it's the first case of it's kind so i'm sure they will appeal, but if they lose those appeals, most companies that aren't insane would cut their losses instead of trying to fight everything.
- DoesntMatter22 8mo agoThey will 100% fight it regardless. This is a massive verdict against them and it sets a bad precedent. There's no way they don't fight it. It's a ridiculously large verdict.
- Hamuko 8mo agoDoes the American legal system have infinite appeals?
- EastSmith 8mo agoWhy the f this was downvoted? Literally from the article: > Tesla has indicated it will appeal the verdict to a higher court.
- DoesntMatter22 8mo agoGenerally the people here are extremely against Musk so most things that are said which are positive, even if true, will get downvoted.