Both sides predict that a $581 million jury verdict against a finance unit of Whirlpool Financial National Bank and Gulf Coast Electronics to pay $580 million in punitive damages and $975,000 in compensatory damages to three plaintiffs, who had charged the defendants with consumer fraud in the sale …
On Friday, May 7, a jury in Hale County returned a verdict against Whirlpool Financial National Bank, now known as Transamerica Bank, in the amount of $580,975,000. The verdict was awarded to Barbara Carlisle and George and Velma Merriweather.
A state record $581 million lawsuit verdict will almost certainly be slashed on appeal, but plaintiff attorney Tom Methvinâe(TM)s firm will eventually get a sizable chunch of change.
GREENSBORO - Standing under a shade tree in front of his small hime in rural Hale County on Tuesday, George Merriweather, 80, was unimpressed by all the attention.
Benton Harbor, Mich., May 10 (Bloomberg News)- The Whirlpool Corporation, the largest United States appliance maker, was ordered to pay $581 million by an Alabama jury that said three people who bought satellite television dishes were mislead over a credit agreement with the company's former finance unit.
This Wall Street Journal story features a landmark verdict secured by Beasley Allen Managing Shareholder Tom Methvin against Whirlpool in 1999. The $581 million verdict was meant to send a message to the company for its practice of misrepresenting loans offered to clients purchasing satellite dishes. The jury found for the plaintiff, saying Whirlpool was in violation of the federal Truth in Lending Act.
In February 1995, a telemarketer from Gulf Coast Electronics contacted Barbara Carlisle and offered here an 18 inch RCA satellite dish with no down payment and installation costs built into the monthly fee. The telemarketer allegedly told Carlisle her payments would be $34 per month for three years.…
Whirlpool paid $580 million in punitive damages making it if not the biggest settlement in US history, one of the biggest. The story is indicative of Whirlpool's corrupt culture and why a whistleblower like Pinkney can't be tolerated.
Residents of seven Alabama counties will receive money from a $12.5 million settlement with Mutual of New York over so-called vanishing premium prices.
The final payments of a $12.5 million settlement of a lawsuit against Mutual of New York (MONY) were delivered to a number of policyholders this week, the plaintiffs' attorney said Monday.
