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n200080 [17]
3 years ago
10

A class-action suit against a utility company resulted in a settlement of $2 million for 70,000 customers. If the legal fees, wh

ich must be paid from the settlement, are $400,000, what amount will each plaintiff receive?
Business
1 answer:
amm18123 years ago
6 0

Answer:

Each plantiff receives approximately $22.86

Explanation:

A class action lawsuit is one in which the plaintiff is a group of people, duly represented by a member of that group. In this case, the group of people is made up of 70,000 customers.

To calculate the amount each plaintiff receives, we will first subtract the legal fee from the total settlement, to obtain effective amount to be shared

Total settlement = $2,000,000

Legal Fees = $400,000

Therefore amount received all plaintiff = $2,000,000 - $400,000 = $1,600,000.

Next we will divide total amount to be shared by the number of plaintiff;

Amount each receives = $1,600,000 ÷ 70,000 = $22.857 = $22.86 (to 2 decimal places).

It is important that you know also that legal fees are amounts charge by lawyers on the settlement to be paid when filing a lawsuit. it is usually set as a certain percentage of the settlement amount to be paid.

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In economics, decisions are necessary because ________ are scarce, while ________ are practically unlimited.
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In economics, decisions are necessary because resources are scarce, while wants and needs are practically unlimited.

<h3>What is economic?</h3>

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There are enormous people who are living in this world and all of them have some kind of need or want them to need to fulfill and also which means that there will be limited resources that will be available to them in the near future also.

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1 year ago
In which of the following situations will the acting party be liable for the tort of negligence? Explain fully.
Eddi Din [679]

Answer:

C). Shannon's physician gives her some pain medication and tells her not to drive after she takes it, as the medication induces drowsiness. In spite of the doctor's warning, Shannon decides to drive to the store while on the medication. Owing to her lack of alertness, she fails to stop at a traffic light and crashes into another vehicle, causing a passenger in that vehicle to be injured.

Explanation:

Negligence is defined as the 'tort whereby a duty of reasonable or standard care as defined by law is breached, causing damage or any conduct short of .'

In the above situation, Shanon was aware of the after-effects of the medication she took as her physician instructs her to not drive because she may feel drowsy. Despite this warning, her decision to drive to the store reflects her negligence i.e. 'intentional action that falls below the legal standard for preventing unreasonable damage or harm.' Thus, <u>option C</u> is the correct answer.

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Golden Eagle Company prepares monthly financial statements for its bank. The November 30 adjusted trial balance includes the fol
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Answer:

Given Below

Explanation:

<em><u>Golden Eagle Company</u></em>

<em><u>General Journal </u></em>

<em><u>Adjusting Entries December 31st </u></em>

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1.              Supplies   Expense           $ 1000 Dr.

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The supplies that were at the end of Nov have been used and new supplies purchased are still on hand.

2.          Insurance   Expense           $ 1000 Dr.

                  Prepaid Insurance                                       1,000 Cr.

Insurance cost is $1,000 per month. Insurance of $1000 expired during the month of December.

3.                  Salaries Expense        $ 14000 Dr.

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Salaries for December owed for December are $14,000.

4.             Unearned Revenue            $ 500 Dr.

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