The Changing Landscape of Blockbuster Punitive Damages Awards
This article investigates the determinants of the blockbuster punitive damages awards of at least $100 million. As of the end of 2008, there had been one hundred such awards with an average value of $3.0 billion. The U.S. Supreme Court decision in State Farm v. Campbell suggested a single-digit upper bound on the punitive damages-compensatory damages ratio, which reduced the annual number of blockbuster awards, the total annual value of blockbuster awards, and the punitive damages-compensatory damages ratio. Applying the 1:1 ratio from Exxon Shipping Co. et al. v. Baker et al. broadly would eliminate most of the blockbuster awards. Copyright 2009, Oxford University Press.
Volume (Year): 12 (2009)
Issue (Month): 1 ()
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