$4B JPMorgan Award Shows Modest Impact Of Mega Punitives
Law360, Los Angeles (September 27, 2017, 10:52 PM EDT) -- A Dallas jury’s punitive damages award of at least $4 billion to family members of a deceased American Airlines executive who alleged JPMorgan mishandled their inheritance has a “snowball’s chance in hell” of becoming a final judgment, according to trial attorneys who say it highlights how punitive damages are so often blown out of proportion.
Shortly after midnight on Tuesday, the probate court jury laid the massive verdict against JPMorgan Chase & Co., finding the bank had maliciously breached its fiduciary duties in its handling of the estate of Max Hopper, who pioneered American Airlines’ SABRE reservation system.
In the suit,...
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