Quote:
Originally Posted by ProfCrash
Three Publishers settled. As part of the settlement, they are each going to pay $51 million. So, half the defendents have agreed to wrong doing and are taking a decent size financial hit in the process.
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ProfCrash, you are wrong about the settlers agreeing that they did wrong. They didn't. The settlement is very clear that there is no admission of wrongdoing and that the settlers decided that it was in their shareholders' best interests not to spend the millions of dollars necessary to defend the lawsuits. In fact, at least one of the settling CEOs stated pointedly that there was no law breaking, no coluusion, no wrong doing. Settling was just a business economic decision.
We can imply/assume/believe that they must believe there was wrongdoing or they wouldn't have settled, but that doesn't make it so. In civil actions, which this is, as opposed to criminal actions, which this isn't, economics plays a bigger role than right or wrong in corporate decisions.