$300 million verdict overturned

Last November I reported that a Florida jury has awarded a 61 year old smoker suffering from emphysema $56.6 million for past and future medical expenses as well as pain and suffering and $244 million punitive damage award against Philip Morris USA. I then stated "I suspect the punitive damage award will be reduced or vacated on appeal but we'll have to wait and see." See here. Well, we don't have to wait any longer. Law.com is reporting today that the verdict will definitely be reduced on appeal. Calling the verdict "excessive" and "shocking," Judge Jeffrey Streitfeld said he would determine a lower award but gave no indication when he would rule. Go here for the full story.