When we think about the largest criminal fine in history, we immediately think of large companies that have sued for their mistakes. Whether it is a case involving a toxic chemical release, an environmental disaster, or false claims about the safety of a drug, the consequences can be enormous. Oftentimes, companies pay billions of dollars in damages to settle legal disputes. But there are a few companies that have paid much bigger fines than those companies. So see Who Paid the Largest Criminal Fine in History and Why?
Big companies are often sued for making mistakes, and many have settled for billions of dollars. However, they are still facing individual lawsuits. These lawsuits are often filed by people who were harmed by the company. While Pfizer is often reported as having paid the largest criminal fine in history, other companies have paid larger fines.
BP has hit with a criminal fine of $2.8 billion for its role in the 2010 Deepwater Horizon oil spill. Including the cost of the compensation process, BP has already paid nearly $47 billion to the government. The company has also announced a $1.4 billion share buyback and a hefty dividend. But BP hasn’t been free from criticism, and Buzzfeed has recently exposed how the company has avoided criminal liability by paying just $25 million to the Mexican government.
Pfizer paid a record-breaking $1.3 Billion Fine
Another drug company that has paid a large criminal fine is Pfizer. In 2009, the company settled with the DOJ to settle complaints of healthcare fraud. Pfizer paid a record-breaking $1.3 billion to settle these lawsuits. The criminal fine amounts to nearly 1% of the company’s total sales. In 2013, Pfizer was also hit with a record fine. The company found guilty of misbranding its anti-inflammatory drug Bextra and advertising it for unapproved uses. In addition to the criminal fine, Pfizer agreed to settle civil claims involving its marketing of the drug.
