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Case Briefs
Bad Faith Verdict Affirmed; $55 Million Punitive Damages Award Held to Be Unconstitutionally Excessive
The Arizona Court of Appeals, Division One recently affirmed a $155,000 bad faith verdict against an auto insurer, and further held that punitive damages were also warranted. The court nevertheless concluded that the jury's $55 million punitive damages award was unconstitutionally excessive, as was the trial court's reduction of that award to $620,000. Accordingly, the Court of Appeals further reduced the punitive damages award to $155,000, a 1:1 ratio to the compensatory damages. Nardelli v. Metropolitan Group Prop. and Cas. Ins. Co., 2012 WL 1514671 (Ariz. App. Div. 1, May 1, 2012).
The DOJ's Corporate Enforcement Policy: One Year Later
The DOJ's Criminal Division issued three declinations since the issuance of the revised CEP a year ago. Review of these cases gives insight into DOJ's implementation of the new policy in practice.
The DOJ's New Parameters for Evaluating Corporate Compliance Programs
The parameters set forth in the DOJ's memorandum have implications not only for the government's evaluation of compliance programs in the context of criminal charging decisions, but also for how defense counsel structure their conference-room advocacy seeking declinations or lesser sanctions in both criminal and civil investigations.
Use of Deferred Prosecution Agreements In White Collar Investigations
This article discusses the practical and policy reasons for the use of DPAs and NPAs in white-collar criminal investigations, and considers the NDAA's new reporting provision and its relationship with other efforts to enhance transparency in DOJ decision-making.
Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
A Lawyer's System for Active Reading
Active reading comprises many daily tasks lawyers engage in, including highlighting, annotating, note taking, comparing and searching texts. It demands more than flipping or turning pages.