Friday, April 11, 2003

State Farm Case Reverberates
 The Recent Supreme Court decision overturning the huge punitive-damage award by a Utah court is expected to have a major impact on the future of such awards. The Court ruled that a defendant should be punished for the conduct in the case, not for some pattern of unsavory business practices, nor should they be subject to excessive fines simply because they have deep pockets. In addition the Court said it would look askance at awards that exceed a single digit ratio between punitive and compensatory damages. The Utah court has been ordered to reduced the punitive damages by $144 million dollars.[Economist] (fee-based)comments or questions [] 9:33:17 AM


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Last update: 5/1/2003; 9:45:28 AM .

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