Punitive Damages Reform: AM Sub SB 80 (2004); ORC Ann. 2315.12.
Limits punitive damages to not more than two times compensatory
Limits punitive damages to not more than two times compensatory damages. Limits punitive damages for small businesses to the lesser of two times compensatory damages or 10 percent of a defendants net worth, not to exceed $350,000. Small businesses are defined as having less than 100 employees or manufacturers that have less than 500 employees. Prohibits the award of punitive damages if punitive damages have already been awarded based on the same act or conduct that is alleged, except under certain circumstances.
This op-ed was originally published by Agri-Pulse. Mass tort litigation has become a multi-billion-dollar industry for trial lawyers over the past several decades as they’ve targeted everything from tobacco and […]
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