In the news AT&T Resolve TVS Dispute With $76M Settlement
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Professional Liability Insurance generally pays up to 20%....
When there is a mistake, that can be taken care of by insurance. But intentional, especially illegal acts are not covered by insurance and will come out of profits just ask Boeing.
these sorts of costs likely aren’t paid by the company, it would be covered under some type of professional liability insurance. Easy example in an unrelated industry is medical malpractice insurance for doctors. If a doctor is sued or fined, they don’t pay that settlement, the insurance company does. There’s an argument that this would likely increase insurance premiums which then adds cost to the company, would result in more layoffs etc. Point being, the company probably isn’t going to have to write a $76M check to cover this.
Yeah that will be covered in second quarter layoffs.
No surprise