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JPMorgan $8 Billion Jury Loss to Widow Faces Massive Reduction
JPMorgan Chase & Co. will probably face a judgment of no more than $90 million in a lawsuit claiming mismanagement of an estate that initially brought a jury verdict of $8 billion in punitive damages. A Dallas jury in September awarded excessive punitives and duplicate actual damages, the widow and children of Max Hopper, a former American Airlinesexecutive, said in court filings. Lawyers for Stephen Hopper and Laura Wassmer asked a Dallas probate court to limit punitive damages to them and their father’s estate to about $70 million, down from a total of $6 billion awarded by the jury. Hopper and Wassmer also ... (full story)