I am a former Knight employee and have had tires replaced at that very shop in sparks. It is an unusual arrangement Knight has with that shop. Knight has it's own supply of tires there and allows the shop to replace any bad tires as long as they turn in the casings. I assume they do this because they don't have tire service at the sparks yard. I hope Kevin gets a jail cell with a Bubba that thinks he's got a pretty mouth.
I don't know if they're self-insured or not but if not, won't their insurance have to pay for this?...
Knight's lawyers can drag the litagation and appeals out for years. They can also get jury awards reduced, claiming they are excessive. Unfortunately backsliders like Knight know how to play the system.
I can't speak to Knight specifically . . you can probably get an answer from their annual report or, if I remember correctly, it might be available on a DOT site. Generally, as is the case with (most and) one large carrier I'm familiar with, self insurance covers the first X million (4 in it's case), then the insurance company kicks in. Think of it as a high deductible policy. Then you might have one company that covers you for 5 - 10 million and yet another for 11 and up. That information came from another case I was interested in. In Knight's case, it's exposure or liability appears to have arisen during the commission of a crime. I'm not aware of any insurance that covers crime. Further, remember the sanction: The judge has basically told Knight (thus it's insurers) she's not going to allow them to defend themselves. My guess is the insurance company will tell Knight "No defense, no pay!", among other things. As for an appeal, remember again, the judge has basically built a box around the accident itself and told Knight they can't touch it. If Knight can't "dissect" the accident, it eliminates a lot of the issues that traditionally form the basis for an appeal. She further said that Knight can defend the extent of their blame but she made it clear that she'll allow the plaintiff to bring up the fact that Knight tried to cover it up which would lead a prudent juror to ask "Well, why did Knight try to cover it up?" "Because they're to blame, perhaps?" It takes a lot of the heat of the dead kid and the victims themselves. Anything is possible and Knight could get out of it. I don't see how but, you're right, it's possible.
1. Correct. They already have; it's been four + years. Read the previous post as to an appeal. 2. Good luck to them on this one. The judge opened the door to punitive damages due entirely to Knight's behavior. 3. They all do, big and small. The lawyers have a job to do and that job is to defend their client at least until the money runs out.
I suggest if anyone has any stock in Knight Transportation (KNX), now would probably be a great time to dump it!!!
Strange how since Feb 22nd, the day that paper was released, their stock has gone up...How the hell does that happen with such an impending bill hanging over their head?...
Investors are betting they'll beat the rap. Day traders are riding the wave. When the court case gets close to being final, I'll bet there will be a lot of shorting going on. The market is a casino - and it doesn't follow logic for the most part.
On the insurance..... I'm sure they do have it however like Time said, it doesn't cover a crime AND you also have a duty as a policy holder to PROTECT the carrier from further damage like when your roof is damaged, you're required to get a tarp and protect what's left or your claim can be denied....same here, Knight would be expected to preserve all evidence and protect the carrier as soon as they had knowledge of the accident.
