Appeals Court Slashes $65 Million Punitive Damage Award in Georgia Fraud Case, Upholds $650,000 Compensatory Judgment
ATLANTA, Ga. — A Georgia Court of Appeals ruling has significantly reduced the punitive damages awarded in a fraud case involving a doctor and a businessman. The court vacated a jury’s $65 million punitive award while upholding compensatory damages of $650,000 and attorney fees exceeding $500,000 against businessman Firoz Thakkar. The appellate court noted that the “potential and actual harm” caused by Thakkar’s actions primarily affected one individual, leading to an economic loss rather than broader societal damages. The judges emphasized that under the circumstances presented, the punitive damages were disproportionate. If this ruling remains … Read more