June 23, 2010

Florida Appellate Court Reverses $351 Million Punitive Damages Award

This Florida appellate opinion reverses a judgment that awarded $159 million in compensatory damages and $351 million punitive damages award against accounting firm BDO Seitman for an allegedly botched audit. The court ordered a new trial because it concluded that the trial court unfairly "trifurcated" the original trial, allowing the jury to make a key finding relevant to the issue of punitive damages before the jury had even considered liability issues such as causation and reliance.

Related post:

Foreign Corporation Not Liable for Punitive Damages Against U.S. Affiliate