Las Vegas shooting settlement - 735+ Million. At fault = MGM

[Erich]

Strike another blow for the legal system. MGM to pay for not stopping shooter.

https://www.reuters.com/article/us-lasvegas-shooting/las-vegas-massacre-survivors-families-reach-735-million-settlement-with-mgm-idUSKBN1WI1Q6

 

[FrankD]

I read a couple articles but couldn't find anything that clarified what MGM's responsibility was in this.  I don't agree with the logic of holding a business accountable for the actions of one of their customers, nor do I think that business are obligated to provide a safe environment for people within a bullet's radius of their grounds.  I wonder if this will change the mentality of other businesses especially in more populated areas.

[Erik88]

We have entered that era where "someone has to pay". We can't hold the shooter accountable so the hotel is easy to blame. This seems ridiculous. In order to actually prevent this the hotel would have needed TSA level security 24/7, at every entrance. Even then it's not a guarantee. 

You will see more corporations come out in support of gun control as a result of this. Not because they care about people, but because they don't want to deal with payouts like this. 

[MacGyver]

This is at least $635 million above their insurance tower.

[Erik88]

34 minutes ago, MacGyver said:

This is at least $635 million above their insurance tower.

You sure about that? 

"Robert Eglet, a lawyer who has been leading talks on behalf of shooting victims, said in a statement Thursday that MGM's insurance will be paying out between $735 million and $800 million, depending on the number of claimants."

https://www.npr.org/2019/10/03/766800480/mgm-resorts-to-pay-up-to-800-million-to-victims-of-las-vegas-shooting

[MacGyver]

Yeah, scratch that.

They've got a $750MM excess casualty placement.  That's insane.

They certainly got their money's worth.

[Garufa]

How much are the lawyers getting out of this settlement?

[AuEagle]

6 minutes ago, Garufa said:

How much are the lawyers getting out of this settlement?

Just a guess, 35-40% plus "expenses," I'm probably low.

Edited October 3, 2019 by AuEagle

[Erich]

Legislation should be put in place that caps the max amount a law firm can exact from the BS mega dollar suits as its seems a conflict of interest. How many of these cases would disappear overnight?

Its especially needed in case like this, where there are multiple "victims" and the law firm gets more than any of their clients when they did not suffer. Save having to go to great pains to decide what to spend their 250 million on. Solid gold toilet brushes? Oh choices choices....

 

 

[hipower]

My opinion...in one word...DISGUSTING.

For all reasons already stated and more, this is a judgement that not only was wrong, it will precipitate more similar attempts to blame everyone and everything but the responsible party.

Apologies to Erik88, I responded emotionally to the original posting. We think alike. lol

[DaveTN]

1 hour ago, Garufa said:

How much are the lawyers getting out of this settlement?

Most of it.

[RED333]

My heart goes out to the victims and their loved ones.

Before long we will see auto makers, beer and whiskey makers get sued for death from drunk drivers. We have seen gun makers get sued already.

Shame as a people we do not hold the bad ones responsible. I know, how do you make a dead killer pay for what he or she does, well you cant. Just like you cant make a fork pay for you getting fat!!!

So just what is the answer, GOD!!!

We say Grace, we say Ma'am, if ya aint into that, we dont give a Old Hickory DAM!!!

Edited October 4, 2019 by RED333
Because I can

[Garufa]

6 minutes ago, RED333 said:

Before long we will see auto makers, beer and whiskey makers get sued for death from drunk drivers. 

Bars, restaurants, even home owners have been sued over that for a couple of decades now.

[RED333]

5 minutes ago, Garufa said:

Bars, restaurants, even home owners have been sued over that for a couple of decades now.

and it is a crying shame.

[DaveTN]

Oops

Edited October 4, 2019 by DaveTN

[DaveTN]

Just another example of why businesses must have absolute immunity if the state recognizes the 2nd amendment as an individual right.

Of course businesses are going to post; why wouldn’t they? Their attorneys will tell them to do everything they can to protect themselves.

They are the “Deep Pockets”, so of course they are going to be sued. It doesn’t matter that they had nothing to do with it; the person responsible is dead and someone must pay.

I’m sure the Democratic candidates and the rest of the left was joyful to see this settlement putting fear into business owners.

The guy charged with manufacturing ammunition without a license, for making some of his ammo goes to trial in December. He waived his right to a jury trial, but the Judge refused it; he will be tried by a jury.

[A.J. Holst]

11 hours ago, RED333 said:

So just what is the answer, GOD!!!

Preach on Brother Red!

[btq96r]

MGM didn't want a long litigation process that provided news updates reminding people what happened.  They want this behind them and customers booking travel without the memory of the shooting when deciding between MGM, Caesars or Harrah's properties.  If this was within their insurance limits, it's a no-brainer to pay out.

[Erich]

What do you suppose the premium runs on a 1 Billion umbrella policy. 

I guess tourists end up paying for it. Could be worse, at least everybody hates tourists

[MacGyver]

1 hour ago, Erich said:

What do you suppose the premium runs on a 1 Billion umbrella policy. 

I guess tourists end up paying for it. Could be worse, at least everybody hates tourists

Few thousand per million in coverage on the first $50MM or so.  It falls off steeply the higher you go up the tower.

Nobody writes that whole policy.  All the carriers take chunks of the risk.  Most of the major carriers are writing limit loss checks on this.  Some of them who were attached at multiple points will write more than one check.

[peejman]

What do you think the judgment would have been if they didn't have the $750M umbrella policy?  More?  Less?  Would it have gone to trial?

[TripleGGG]

7 hours ago, Erich said:

What do you suppose the premium runs on a 1 Billion umbrella policy. 

I guess tourists end up paying for it. Could be worse, at least everybody hates tourists

We all end up paying for it in insurance premiums!