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Litigation

: CalBizLit

Runaway Verdicts Just Aren't What They Used To Be

By Bruce Nye

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    Boomberg reports that "the billion dollar verdict has disappeared from U.S. courtrooms." Billiondollars Biggest reason seems to be State Farm v. Cambpell and its progeny.  Says Bloomberg "For the second time in the past three years, juries in 2008 issued no awards " of a billion or more.

In 2007, there was one such verdict, for $1.5 billion. In the previous 14 years there was at least one billion-dollar verdict a year and a total of 26. Six cases produced awards of more than $5 billion each.


    The largest verdict of the year did -- surprise! -- come from California.  It was the ICO v. Lockheed case CalBizLit blogged about late last year here, and a few days ago here.  A mere $606 million, or $630 million depending on the report you read. 

Full post as published by CalBizLit on January 09, 2009 (boomark / email).

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