Judge Refuses to Cap Potential Tobacco Award July 7, 2000
News Summary
The judge overseeing the Florida smokers trial told the jury they could award punitive damages beyond the amount the tobacco companies claim as their combined net worth, the Associated Press reported July 6.The nation's five biggest tobacco companies named in the lawsuit had asked Circuit Judge Robert Kaye to cap punitive damages at $15.3 billion, their combined net worth based on 1999 annual reports.
In responding to the request, Kaye said, "There's much more to this case than net worth or stockholder equity. I tried to explain that to you throughout the entire course of the trial. You guys fought me all the way down the line. I think you're wrong."
Instead, Kaye told the jury to consider overall financial resources, such as the value of trademarks, which are not part of net worth.
"We're talking financial resources. Financial resources mean the whole ball of wax," Kaye stressed.
The jury is expected to begin deliberations next week.
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