Loss of money is the only thing that will teach them. Otherwise when they kill or maim someone because of their stupidity, they would only make a "heartfelt" apology then quickly get away from the people they harmed with no real accountability.
I have worked for copmanies that shortcut on design and testing to rush software into production. And you know what they fear the most if the customer data is compromised or people harmed?? Loss of money and loss of public face. they no longer do the thing right because its the right thing to do. Its a dollar decision all the way.
So I don't care how much the lawyers are getting its not even the point.
When companies are irresponsible they should pay through the nose. It is a poor substitute for morality and ethics though.
Some here probably think the best way to punish a child is to take away their peas and broccoli.