And given the numbers involved, they will have no shortage of lawyers lining up to help them. Finding a lawyer to help the minimum wage earner would be much harder even though their family probably needs the money more.
I wonder what amount of insurance airplane manufacturers carry? Obviously Icon isn't Boeing or Bombardier, there is almost no capital in the company, whatever money is won in a lawsuit is in the liability policy. This will likely be a much much lower number than 25 years of Halliday's earning potential. Is it possible that Halliday's family end up owning Icon? The policy won't be big enough, about Icon has worth money is an airplane design and associated manufacturing operation. Instead of going bankrupt if they lost, could ownership transfer to Mrs. Halliday to save the company?
Going back a few years there was a company making helicopter kits for home builders. They stated that they owned next to nothing. Premises and tooling were leased. They said they would make reasonable compensations but if things went nuts the person suing would end up owning a helicopter company.
When I was flying Cessnas it was rumored that liability insurance was half the cost of making a C-172. They could be sued over planes that were decades old. In one case a drunk non-pilot stole an airplane and crashed it. Cessna got sued because it was too easy to hot wire.
If you want to see NTSB results there are a number of crash videos on Youtube showing the final results as well as a CGI of how the problem progressed. Warning: Watch too many and you may not want fly again and it's not just terrorist crap either.