Jan 19
Economic damages should return a plaintiff to the position they would have been in “but for” the underlying improper act[s] by the defendant. They should not provide a windfall to plaintiff. In a similar vein, whether such damages are taxable is generally related to how the proceeds would have been treated if obtained in the …
Permanent link to this article: https://betweenthenumbers.net/2019/01/when-litigation-proceeds-are-taxable/
Nov 09
It has been reported that Sharrif Floyd, a former Minnesota Vikings defensive tackle, will sue the notable surgeon who he claims prematurely ended his NFL career. Floyd is claiming damages of $180 million, an amount described as his lost future earnings in the NFL. Many have questioned the reasonableness of the reported claim. While NFL …
Permanent link to this article: https://betweenthenumbers.net/2018/11/nfl-player-claims-lost-earnings-of-180-million/
Jun 27
One common point of disagreement amongst opposing sides of a lost earnings case is future earnings, especially when the claimant has no meaningful earnings history. This typically occurs in personal injury cases in which the injured party is a child or an adolescent. Recently published data by the Board of Governors of the Federal Reserve …
Permanent link to this article: https://betweenthenumbers.net/2018/06/calculating-future-lost-earnings-with-no-earnings-history/
Apr 27
Lost compensation is a method of capturing economic damages in personal injury, medical malpractice, wrongful termination, failure to promote and other similar torts. Independent damages experts (often economists or CPAs) are often employed to calculate lost compensation because of their unique background/skill set in addressing such economic losses. However, the desire to minimize costs means …
Permanent link to this article: https://betweenthenumbers.net/2018/04/calculate-economic-damages-associated-with-lost-earnings-claims-accurately-and-efficiently/
Aug 15
Based on a Johns Hopkins University study, a prior blog post provides some alarming statistics on surgical “never events” (a term used in the medical community to describe a preventable surgical event that is “never” supposed to occur) that actually do occur. More recently from the same university, a study concluded the following: Of approximately …
Permanent link to this article: https://betweenthenumbers.net/2013/08/medical-diagnostic-errors-are-the-primary-cause-of-malpractice-claims/
Jul 24
Damage experts don’t always agree regarding the appropriate discount rate and underlying methodology for a lost earnings claim and certain commonly applied methods actually provide a windfall to Plaintiffs. The chosen rate can make a meaningful difference in the economic damages conclusion. A recent article, “Lost Compensation Settlement Tool Allows You To Assess Economic Damages …
Permanent link to this article: https://betweenthenumbers.net/2013/07/the-appropriate-discount-rate-in-a-lost-earnings-claim/
Jun 17
Many states have laws requiring patients to file medical malpractice claims by a defined time period. If the patient misses the defined time period, he/she may see the claim quickly tossed. However, a recent Wyoming Supreme Court reversed a malpractice ruling citing that the District Court Judge wrongly ruled that plaintiff failed to timely file …
Permanent link to this article: https://betweenthenumbers.net/2013/06/statute-of-limitations-interpretation-on-filing-a-medical-malpractice-suit-may-vary-even-within-states/
May 30
Considering taxes in a lost earnings calculation related to personal injury matters may materially alter the damages amount. In the well-known 1980 Supreme Court case, Norfolk & Western Railway Co. v. Liepelt, the Court ruled that courts should consider taxes and calculate lost earnings net of income taxes. The Court’s rationale was that the damage …
Permanent link to this article: https://betweenthenumbers.net/2013/05/consideration-of-taxes-in-a-lost-earnings-calculation/
Apr 14
A fifth U.S. Circuit Court of Appeals recently upheld Mississippi’s $1 million cap on what Plaintiffs can recover for pain and suffering (aka non-economic damages) in personal injury cases with pharmaceutical product liability. The jury initially awarded Plaintiff, Ms. Learmonth, a total of $4 million for injuries suffered from a car crash with a Sears …
Permanent link to this article: https://betweenthenumbers.net/2013/04/law-and-economics-unite-for-the-greater-good-in-theory-but-maybe-not-in-practice/
Mar 21
Lost compensation is a method of capturing economic damages in personal injury, medical malpractice, wrongful termination, failure to promote and other similar torts. Independent damages experts are often employed to calculate lost compensation because of their unique background/skill set. However, the desire to minimize costs means that these experts are often employed after settlement efforts …
Permanent link to this article: https://betweenthenumbers.net/2013/03/lost-compensation-settlement-tool-allows-you-to-assess-economic-damages-accurately-and-efficiently/
