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LaPierre and Trump Verdicts; Cloud Over NY Businesses?

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Former NRA Head Wayne LaPierre = >$4.3 Million; Donald Trump >$ 450 Million

WASHINGTON - eTradeWire -- A New York jury found that the National Rifle Association's [RNA] longtime leader, Wayne LaPierre, should pay the gun group $4.3 million in damages for mismanagement and misspending charitable funds; this in addition to funds he has already repaid.  It also ruled that the group and some of its leaders acted illegally.

When, earlier, former president Donald Trump was held liable for some $ 450 million, there was speculation by many that this verdict by a judge would make many corporations reluctant to begin or continue doing business in New York, taking this huge verdict as a sign of a climate unfriendly if not downright dangerous for businesses.

But many on the other side disagreed, arguing that Trump's situation was absolutely unique and over the top - lawyers say

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"sui generis" - so that other "legitimate businesses" really had nothing to worry about.

Some also blamed the huge verdict against Trump on the individual judge; a judge who was allegedly biased and vindictive, and possibly part of an effort to "get" Trump by any means necessary.

But the NRA verdict, especially coming so soon after Trump's, could undercut the argument that high verdicts against corporations are not likely in New York, and/or that the verdict was only the result of a judge's bias (since the NRA verdict was by a jury) and not an indication of general hostility.

Banzhaf, who has been called "The Law Professor Who Masterminded Litigation Against the Tobacco Industry," "a Driving Force Behind the Lawsuits That Have Cost Tobacco Companies Billions of Dollars," and a "King of Class Action Law Suits," does not join in urging businesses to abandon New York because of an alleged anti-business climate, but he does see how some businesses might begin to be wary.
jbanzhaf3ATgmail.com   @profbanzhaf

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Source: Public Interest Law Professor John Banzhaf
Filed Under: Legal

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