At the start of the recent Merck/Vioxx trial, this post noted the dearth of clinical evidence that Vioxx was a particularly risky drug.
In light of last week’s big verdict in the case, long-time Clear Thinkers favorite James D. Hamilton (prior posts here) evaluates one of the recent clinical studies on Vioxx and explains the study’s statistical basis for the conclusion that there is a slightly elevated risk of heart attack for certain Vioxx users. Professor Hamilton then juxtaposes the following question against one of plaintiff’s lawyer Mark Lanier’s more disingenuous questions during the trial:

How did we arrive at a system in which 12 random Texans are assigned responsibility for evaluating the scientific merits of statistical evidence of this type, weighing the costs and benefits, and potentially sending a productive blue-chip American company into bankruptcy protection?

This BBC article indicates that none other than Steve Jobs may be the next executive to be on the receiving end of the tort liability merry-go-round:

The surge in sales of iPods and other portable music players in recent years could mean many more people will develop hearing loss, experts fear.

Mark Lanier is licking his chops.

As KPMG attempts to finalize a deferred prosectution agreement with federal prosecutors that would avoid an Arthur Andersen-type indictment and probable meltdown, now they have another front on the criminal battlefield to be worried about:

Mississippi likely will file criminal charges against accounting giant KPMG because it created a tax strategy the state says illegally let WorldCom, now called MCI Inc. shield billions of dollars from taxes, sources close to the case said on Friday.
Although a few other states have also weighed this strategy, Mississippi Attorney General Jim Hood is the most determined and his state would be the first to take this step, said the sources, who requested anonymity.
Under Mississippi law, “any person who willfully attempts in any manner to evade or defeat any tax . . . or assists in the evading of that tax or payment thereof” can be found guilty of a felony, one of the sources said. Penalties can be up to five years in prison, while fines can be as much as $500,000.
Analysts say Congress and corporate America would not want another of the nation’s biggest accounting firms put out of business because the industry would be overly concentrated.
Mississippi might not share the federal government’s concern that there could be too few auditors if KPMG collapsed, experts said, so KPMG might have less leverage in any talks with the state.

Hat tip to Ellen Podgor for the link to the Mississippi action.