Ohio Court of Appeals Upholds Reduced Punitive Damages Award in Securities Fraud Case

Adam Savett, author of the excellent blog Lies, Damn Lies and Forward-Looking Statements, has called to our attention this story on the recent decision from the Court of Appeals for Marion County, Ohio, upholding a judgment against Prudential Securities of $12.3 million in compensatory damages and $6.8 million in punitive damages (reduced from the jury award of $250 million) in connection with an unauthorized trading claim.