Settlements in Colorado product liability actions

Posted On May 13 2015 | Firm News,Products Liability

Each year, many people are seriously injured by products that they used in a reasonable manner. In some cases, they may choose to file product liability civil lawsuits against those responsible for placing the defective products on the market. In the event that a settlement offer is made, people should be careful before just accepting it.

Those who may be liable for injuries caused by defective products may include the manufacturers, sellers and distributors of the product. Potential liability also extends to those responsible for manufacturing the component parts of a finished product as well. It is very important to identify all potential defendants when filing a lawsuit. If a settlement is accepted, the plaintiff will be prevented from later going after an unnamed defendant for their injury.

Similarly, available damages include a lot more than the injured person’s medical bills. One problem that can occur is when victims incorrectly value their cases, leading them to accept a settlement that is inadequate. People should also understand that in many cases, their insurance company will be able to file a claim for subrogation.

Being too quick to accept a settlement can be costly, as it may mean that a person permanently forgoes any potential claim they might have otherwise had. Those who have been seriously injured by a defective product may benefit by seeking the help of a personal injury attorney who has experience in handling product liability litigation. Legal counsel may be better able to identify all potential claims and defendants. Such an attorney may also help by identifying all potential damages that can be sought so that the maximum recovery is received, either through a settlement or by a jury award if the matter proceeds to trial.