I read an interesting article about the ongoing legal injustice going on in North Carolina that started several years ago and continues to this day. The case relates to the Blue Ridge Health Care Center in Raleigh, NC, where three nursing home residents died. Family members and experts blamed the preventable deaths on the corporate pattern and practice of short-staffing the nursing homes to increase the profits. Well, after hearing all the evidence, a jury found that the wrongful deaths were caused by inadequate staffing and compensated the families for the loss of their loved ones in the amount of $4.5 million last year. A trial judge later vacated the punitive damages awarded.
Why even have a jury if a judge can nullify their decisions!?
The Fourth Circuit court reinstated the award in August but arbitrarily lowered the amount to $2 million. However, the court has granted post-judgment interest, tallied from the date of the original judgment. Therefore, the nursing home must pay interest on $2 million in damages awarded last year, even though the original larger award had been temporarily vacated.
That interest will be calculated at the federal rate, equal to the weekly average one-year constant maturity Treasury yield.