Word: verdicts
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Reverberations from the Houston decision echoed down Wall Street. The day the verdict was announced, Texaco stock fell $3, to close at $36.25, while Pennzoil shot up $7.62, to $57.50. Some irate legal experts felt that the compensation awarded to Pennzoil was disproportionate to the injury. Said Martin Klein, chairman of the American Bar Association's bankruptcy-litigation subcommittee: "Pennzoil is in a better position than it would have been if the merger had gone through...
...verdict was a major victory for Reynolds and for the tobacco industry as a whole, which currently faces more than 40 similar liability suits. Lawyer Belli plans an appeal, based on Judge Bruce Dodds' refusal to admit important evidence about the Surgeon General's reports on the hazards of smoking...
...Argentine, I am proud of the verdict against General Jorge Videla and company. However, I believe that the sentences were very mild. This trial is unique and set a precedent that should be noted by the other dictators in Latin America. Juan M. Cutri Arcadia, Calif. Mickey in France...
...cigarette manufacturers. From 1977 to 1981, the number of civil lawsuits in state courts grew four times as fast as the population of the U.S. And in the decade between 1974 and 1984, the number of product-liability suits in federal courts expanded 680%. The first million-dollar verdict did not occur until 1962, but there were 401 in 1984, according to Jury Verdict Research Inc., a private group. The average verdict in product-liability cases now tops $1 million; preliminary figures for 1985 indicate that the average verdict in medical malpractice cases also exceeded $1 million for the first...
...Association of Trial Lawyers of America counters by arguing that the Jury Verdict Research figures on averages are distorted by a relatively small number of huge verdicts. In addition, they say, the figures count only the initial outcomes of trials that the plaintiffs won. If defendant victories, out-of-court settlements and verdicts reduced on appeal were factored in, say the lawyers, even the average level of awards would be much lower. ATLA asserts that more than two-thirds of the million-dollar awards compensate victims or relatives for genuinely serious injuries, such as death or permanent paralysis, reflecting...