$54 million award in insurance bad faith case slashed to $155,000 by Arizona appellate court
Nardelli v. Metro. Group Prop. & Cas. Ins. Co. (Ariz. App. May 1, 2012). Court sets award at a 4-to-1 ratio to compensatory damages.
Steven C. Dawson of Dawson & Rosenthal for plaintiffs.
Richard A. Dillenburg for defendants.
Decision here.
Update (11/16/2012): Commentary by attorney Nathan D. Meyer here.