Summary
In the US, investors will get roughly $3 bn in compensation from Wall Street banks that encouraged investments in dotcom companies from which they were earning banking fees. At least one US financial magazine considers this a derisory sum. Here, the compensation for victims of the Potters Bar rail crash in May 2002 is likely to be in the low thousands. The victims included Agnes Quinlivan, whose daughters were paid an initial £10,000 and had a subsequent claim for damages rejected by Railtrack.
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Extract
Turn to the Lawyers for Justice
Everyone has their favourite story of the American culture of compensation. Mine came towards the end of last year from the Iowa court of appeals, which upheld a jury's award of $41,267 to a shopper, Judy Krenk, who slipped on a grape at a supermarket checkout. The parties agreed that "a customer, other than Krenk, dropped the grape while bagging groceries", reported the Des Moines Register. The judge, while noting that "the evidence in supp...
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