he later made the tobacco companies pay: over $200 billion to Mississippi and forty-five other states as compensation for Medicaid costs arising from tobacco-related illnesses. The case {immortalized in the film The Insider} made Scruggs a rich man. His fee in the tobacco class action is said to have been $1.4 billion, or $22,500 for every hour his law firm worked.
by Niall Ferguson
(0 Reviews)

In Niall Ferguson's book, "The Ascent of Money: A Financial History of the World," the story of attorney Dickie Scruggs is highlighted for his pivotal role in holding tobacco companies accountable for their health-related costs. Scruggs led a significant legal battle that resulted in tobacco firms paying over $200 billion to Mississippi and other states, aimed at compensating for Medicaid expenses linked to tobacco-related diseases. His legal efforts not only addressed public health concerns but also transformed the financial landscape for those affected by tobacco use.

The outcome of this landmark case greatly enriched Scruggs, earning him a staggering fee believed to be $1.4 billion, which translates to approximately $22,500 for every hour his law firm worked. The narrative of his courtroom triumph reflects not only a personal victory but also signifies a broader shift in the accountability of major corporations for their actions. This case, which inspired the film “The Insider,” immortalized Scruggs as a key figure in the fight against corporate malpractice in the tobacco industry.

Stats

Categories
Votes
0
Page views
0
Update
February 04, 2025

Rate the Quote

Add Comment & Review

User Reviews

Based on 0 reviews
5 Star
0
4 Star
0
3 Star
0
2 Star
0
1 Star
0
Add Comment & Review
We'll never share your email with anyone else.
More »

Other quotes in book quote

More »

Popular quotes

My life amounts to no more than one drop in a limitless ocean. Yet what is any ocean, but a multitude of drops?
by David Mitchell
Small towns are like metronomes; with the slightest flick, the beat changes.
by Mitch Albom
Look, if you say that science will eventually prove there is no God, on that I must differ. No matter how small they take it back, to a tadpole, to an atom, there is always something they can't explain, something that created it all at the end of the search. And no matter how far they try to go the other way – to extend life, play around with the genes, clone this, clone that, live to one hundred and fifty – at some point, life is over. And then what happens? When the life comes to an end? I shrugged. You see? He leaned back. He smiled. When you come to the end, that's where God begins.
by Mitch Albom
You say you should have died instead of me. But during my time on earth, people died instead of me, too. It happens every day. When lightning strikes a minute after you are gone, or an airplane crashes that you might have been on. When your colleague falls ill and you do not. We think such things are random. But there is a balance to it all. One withers, another grows. Birth and death are part of a whole.
by Mitch Albom
A half-read book is a half-finished love affair.
by David Mitchell
Our lives are not our own. We are bound to others, past and present, and by each crime and every kindness, we birth our future.
by David Mitchell
Travel far enough, you meet yourself.
by David Mitchell
The pollenless trees were genomed to repel bugs and birds; the stagnant air reeked of insecticide.
by David Mitchell
A random sequence of seemingly unrelated events.
by David Mitchell
People pontificate, "Suicide is selfishness." Career churchmen like Pater go a step further and call in a cowardly assault on the living. Oafs argue this specious line for varying reason: to evade fingers of blame, to impress one's audience with one's mental fiber, to vent anger, or just because one lacks the necessary suffering to sympathize. Cowardice is nothing to do with it - suicide takes considerable courage. Japanese have the right idea. No, what's selfish is to demand another to endure an intolerable existence, just to spare families, friends, and enemies a bit of soul-searching.
by David Mitchell