The Case of the Delayed Real Estate Development In a situation where there is a claim of wrongdoing and one party suffers pecuniary damages, it is incumbent on the economic damages expert to precisely define the period of such claimed damages to properly quantify them. The outcome is largely dependent on the expert’s processes for determining damages, the components of the Expert Report, and the ability to remain unbiased and issue opinions independent of the client’s interests.
-
-
When Calculating the Exemplary Damages Cap In a recent Texas Court of Appeals case, the jury awarded plaintiff $15,000,000 in exemplary damages; the Court reduced this amount citing section 41.008(b)(1) of the Texas Civil Practice & Remedies Code, which caps exemplary damages at two times the amount of “economic damages,” plus up to $750,000 in non-economic damages. The question on appeal was whether the jury’s finding of “pecuniary loss” was the same as “economic damages” for purposes of Chapter 41. The Court emphasized the word “actual” in the statutory definition of “economic damages”. The decision features a dissent from Justice…