August 1, 2011
South Carolina Punitive Damages Legislation Signed
Details here. The law has a semi-flexible cap on punitive damages, with $500,000 or three times actual damages as the default, but with a safety valve provision to raise the cap to $2 million in certain situations. Proponents argued that the legislation will increase businesses' desire to locate in the state.
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I posted a short comment on the bill yesterday here.
Posted by: Prof. Alberto Bernabe | Aug 1, 2011 7:17:23 AM
Oops! I just realized my comment was about a new law in NORTH Carolina, not South Carolina. My mistake; sorry!
Posted by: Prof. Alberto Bernabe | Aug 1, 2011 7:21:38 AM