Yesterday the Florida Supreme Court overturned the single largest punitive damage verdict in history. The $145 billion verdict against a number of tobacco companies was tossed out by the court and the class was de-certified. We had particular interest in the case as we had entered the litigation as amicus, arguing on behalf of all manufacturers who are constantly sued by enterprising and greedy trial lawyers.
Here’s a link to the post on Point of Law, wherein Sam Munson quotes the Court’s 79-page opinion as saying, “We vacate the punitive damages award because we unanimously conclude that the punitive damages award is excessive as a matter of law…” Simple enough.
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