Sempra's $48.5M Verdict Against Marsh Upheld

Law360, New York (August 4, 2010, 4:30 PM EDT) -- A federal appeals court has upheld a $48.5 million jury award for Sempra Energy against insurance adviser Marsh USA Inc., which recommended a political risk policy that failed to protect Sempra from millions of dollars in foreign investment losses when Argentina’s banks defaulted in 2001.

A three-judge panel of the U.S. Court of Appeals for the Ninth Circuit said Tuesday in an unsigned opinion that the U.S. District Court for the Central District of California hadn't erred in its jury instructions or evidentiary rulings, as Marsh...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.