Philip Morris Makes Ten Million Bucks A Day?
Putting it in that light, a $244 million award for punitive damages doesn’t sound that high, does it?
The Litigation Daily spoke with Naugle's attorney, Robert Kelley of Kelley and Uustal, on Friday. We wanted to know, first of all, why this award was so much larger than those in previous Engle trials. One reason, he said, was that this was the first trial in which the jury heard about the "real financial resources" of Philip Morris. The company, he said, claimed that it was worth only $1.7 billion. But he presented witnesses who said that in just the first three quarters of 2009, Philip Morris paid $3.1 billion in dividends to Altria, its parent company. "We broke it down and it was about $10 million a day," he said. "The jury was impressed by the numbers."